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convfinqa8700

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: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: . <table class='wikitable'><tr><td>1</td><td></td><td>2005</td><td>2004</td><td>2003</td></tr><tr><td>2</td><td>allowances beginning of year</td><td>$ 462</td><td>$ 607</td><td>$ 219</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>80</td><td>407</td><td>472</td></tr><tr><td>4</td><td>write-offs of uncollectible receivables</td><td>-199 ( 199 )</td><td>-552 ( 552 )</td><td>-84 ( 84 )</td></tr><tr><td>5</td><td>allowances end of year</td><td>$ 343</td><td>$ 462</td><td>$ 607</td></tr></table> significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of . Conversations: Question: what were the allowances at the beginning of the year in 2005? Answer:

462.0

convfinqa8701

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: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: . <table class='wikitable'><tr><td>1</td><td></td><td>2005</td><td>2004</td><td>2003</td></tr><tr><td>2</td><td>allowances beginning of year</td><td>$ 462</td><td>$ 607</td><td>$ 219</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>80</td><td>407</td><td>472</td></tr><tr><td>4</td><td>write-offs of uncollectible receivables</td><td>-199 ( 199 )</td><td>-552 ( 552 )</td><td>-84 ( 84 )</td></tr><tr><td>5</td><td>allowances end of year</td><td>$ 343</td><td>$ 462</td><td>$ 607</td></tr></table> significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of . Conversations: q0: what were the allowances at the beginning of the year in 2005? 462.0 Question: and in 2004? Answer:

607.0

convfinqa8702

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: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: . <table class='wikitable'><tr><td>1</td><td></td><td>2005</td><td>2004</td><td>2003</td></tr><tr><td>2</td><td>allowances beginning of year</td><td>$ 462</td><td>$ 607</td><td>$ 219</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>80</td><td>407</td><td>472</td></tr><tr><td>4</td><td>write-offs of uncollectible receivables</td><td>-199 ( 199 )</td><td>-552 ( 552 )</td><td>-84 ( 84 )</td></tr><tr><td>5</td><td>allowances end of year</td><td>$ 343</td><td>$ 462</td><td>$ 607</td></tr></table> significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of . Conversations: q0: what were the allowances at the beginning of the year in 2005? 462.0 q1: and in 2004? 607.0 Question: so what is the difference in this value between the two years? Answer:

-145.0

convfinqa8703

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: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: . <table class='wikitable'><tr><td>1</td><td></td><td>2005</td><td>2004</td><td>2003</td></tr><tr><td>2</td><td>allowances beginning of year</td><td>$ 462</td><td>$ 607</td><td>$ 219</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>80</td><td>407</td><td>472</td></tr><tr><td>4</td><td>write-offs of uncollectible receivables</td><td>-199 ( 199 )</td><td>-552 ( 552 )</td><td>-84 ( 84 )</td></tr><tr><td>5</td><td>allowances end of year</td><td>$ 343</td><td>$ 462</td><td>$ 607</td></tr></table> significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of . Conversations: q0: what were the allowances at the beginning of the year in 2005? 462.0 q1: and in 2004? 607.0 q2: so what is the difference in this value between the two years? -145.0 Question: and the amount in 2004 again? Answer:

607.0

convfinqa8704

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: goodwill is reviewed annually during the fourth quarter for impairment . in addition , the company performs an impairment analysis of other intangible assets based on the occurrence of other factors . such factors include , but are not limited to , signifi- cant changes in membership , state funding , medical contracts and provider networks and contracts . an impairment loss is rec- ognized if the carrying value of intangible assets exceeds the implied fair value . the company did not recognize any impair- ment losses for the periods presented . medical claims liabilities medical services costs include claims paid , claims reported but not yet paid ( inventory ) , estimates for claims incurred but not yet received ( ibnr ) and estimates for the costs necessary to process unpaid claims . the estimates of medical claims liabilities are developed using standard actuarial methods based upon historical data for payment patterns , cost trends , product mix , seasonality , utiliza- tion of healthcare services and other relevant factors including product changes . these estimates are continually reviewed and adjustments , if necessary , are reflected in the period known . management did not change actuarial methods during the years presented . management believes the amount of medical claims payable is reasonable and adequate to cover the company 2019s liabil- ity for unpaid claims as of december 31 , 2005 ; however , actual claim payments may differ from established estimates . revenue recognition the majority of the company 2019s medicaid managed care premi- um revenue is received monthly based on fixed rates per member as determined by state contracts . some contracts allow for addi- tional premium related to certain supplemental services provided such as maternity deliveries . revenue is recognized as earned over the covered period of services . revenues are recorded based on membership and eligibility data provided by the states , which may be adjusted by the states for updates to this membership and eligibility data . these adjustments are immaterial in relation to total revenue recorded and are reflected in the period known . premiums collected in advance are recorded as unearned revenue . the specialty services segment generates revenue under con- tracts with state and local government entities , our health plans and third-party customers . revenues for services are recognized when the services are provided or as ratably earned over the cov- ered period of services . for performance-based contracts , the company does not recognize revenue subject to refund until data is sufficient to measure performance . such amounts are recorded as unearned revenue . revenues due to the company are recorded as premium and related receivables and recorded net of an allowance for uncol- lectible accounts based on historical trends and management 2019s judgment on the collectibility of these accounts . activity in the allowance for uncollectible accounts for the years ended december 31 is summarized below: . <table class='wikitable'><tr><td>1</td><td></td><td>2005</td><td>2004</td><td>2003</td></tr><tr><td>2</td><td>allowances beginning of year</td><td>$ 462</td><td>$ 607</td><td>$ 219</td></tr><tr><td>3</td><td>amounts charged to expense</td><td>80</td><td>407</td><td>472</td></tr><tr><td>4</td><td>write-offs of uncollectible receivables</td><td>-199 ( 199 )</td><td>-552 ( 552 )</td><td>-84 ( 84 )</td></tr><tr><td>5</td><td>allowances end of year</td><td>$ 343</td><td>$ 462</td><td>$ 607</td></tr></table> significant customers centene receives the majority of its revenues under contracts or subcontracts with state medicaid managed care programs . the contracts , which expire on various dates between june 30 , 2006 and august 31 , 2008 , are expected to be renewed . contracts with the states of indiana , kansas , texas and wisconsin each accounted for 18% ( 18 % ) , 12% ( 12 % ) , 22% ( 22 % ) and 23% ( 23 % ) , respectively , of the company 2019s revenues for the year ended december 31 , 2005 . reinsurance centene has purchased reinsurance from third parties to cover eligible healthcare services . the current reinsurance program covers 90% ( 90 % ) of inpatient healthcare expenses in excess of annual deductibles of $ 300 per member , up to a lifetime maximum of $ 2000 . centene 2019s medicaid managed care subsidiaries are respon- sible for inpatient charges in excess of an average daily per diem . reinsurance recoveries were $ 4014 , $ 3730 , and $ 5345 , in 2005 , 2004 , and 2003 , respectively . reinsurance expenses were approximately $ 4105 , $ 6724 , and $ 6185 in 2005 , 2004 , and 2003 , respectively . reinsurance recoveries , net of expenses , are included in medical costs . other income ( expense ) other income ( expense ) consists principally of investment income and interest expense . investment income is derived from the company 2019s cash , cash equivalents , restricted deposits and investments . interest expense relates to borrowings under our credit facility , mortgage interest , interest on capital leases and credit facility fees . income taxes deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases . deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled . the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of the tax rate change . valuation allowances are provided when it is considered more likely than not that deferred tax assets will not be realized . in determining if a deductible temporary difference or net operating loss can be realized , the company considers future reversals of . Conversations: q0: what were the allowances at the beginning of the year in 2005? 462.0 q1: and in 2004? 607.0 q2: so what is the difference in this value between the two years? -145.0 q3: and the amount in 2004 again? 607.0 Question: so what was the percentage change? Answer:

-0.23888

convfinqa8705

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: alexion pharmaceuticals , inc . notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) in 2006 , we completed a final phase iii trial of pexelizumab . after reviewing results from that trial , we along with p&g , determined not to pursue further development of pexelizumab . effective march 30 , 2007 , we and p&g mutually agreed to terminate the collaboration agreement . as the relevant agreement has been terminated in march 2007 , the remaining portion of the $ 10000 non-refundable up-front license fee , or $ 5343 , was recognized as revenue in the year ended december 31 , 2007 and is included in contract research revenues . license and research and development agreements we have entered into a number of license , research and development and manufacturing development agreements since our inception . these agreements have been made with various research institutions , universities , contractors , collaborators , and government agencies in order to advance and obtain technologies and services related to our business . license agreements generally provide for an initial fee followed by annual minimum royalty payments . additionally , certain agreements call for future payments upon the attainment of agreed upon milestones , such as , but not limited to , investigational new drug , or ind , application or approval of biologics license application . these agreements require minimum royalty payments based on sales of products developed from the applicable technologies , if any . clinical and manufacturing development agreements generally provide for us to fund manufacturing development and on-going clinical trials . clinical trial and development agreements include contract services and outside contractor services including contracted clinical site services related to patient enrolment for our clinical trials . manufacturing development agreements include clinical manufacturing and manufacturing development and scale-up . we have executed a large-scale product supply agreement with lonza sales ag for the long-term commercial manufacture of soliris ( see note 9 ) . in order to maintain our rights under these agreements , we may be required to provide a minimum level of funding or support . we may elect to terminate these arrangements . accordingly , we recognize the expense and related obligation related to these arrangements over the period of performance . the minimum fixed payments ( assuming non-termination of the above agreements ) as of december 31 , 2007 , for each of the next five years are as follows : years ending december 31 , license agreements clinical and manufacturing development agreements . <table class='wikitable'><tr><td>1</td><td>years ending december 31,</td><td>license agreements</td><td>clinical and manufacturing development agreements</td></tr><tr><td>2</td><td>2008</td><td>$ 707</td><td>$ 2860</td></tr><tr><td>3</td><td>2009</td><td>552</td><td>3750</td></tr><tr><td>4</td><td>2010</td><td>322</td><td>7500</td></tr><tr><td>5</td><td>2011</td><td>300</td><td>7500</td></tr><tr><td>6</td><td>2012</td><td>300</td><td>7500</td></tr></table> . Conversations: Question: what was the net change in license agreements from 2008 to 2009? Answer:

-155.0

convfinqa8706

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: alexion pharmaceuticals , inc . notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) in 2006 , we completed a final phase iii trial of pexelizumab . after reviewing results from that trial , we along with p&g , determined not to pursue further development of pexelizumab . effective march 30 , 2007 , we and p&g mutually agreed to terminate the collaboration agreement . as the relevant agreement has been terminated in march 2007 , the remaining portion of the $ 10000 non-refundable up-front license fee , or $ 5343 , was recognized as revenue in the year ended december 31 , 2007 and is included in contract research revenues . license and research and development agreements we have entered into a number of license , research and development and manufacturing development agreements since our inception . these agreements have been made with various research institutions , universities , contractors , collaborators , and government agencies in order to advance and obtain technologies and services related to our business . license agreements generally provide for an initial fee followed by annual minimum royalty payments . additionally , certain agreements call for future payments upon the attainment of agreed upon milestones , such as , but not limited to , investigational new drug , or ind , application or approval of biologics license application . these agreements require minimum royalty payments based on sales of products developed from the applicable technologies , if any . clinical and manufacturing development agreements generally provide for us to fund manufacturing development and on-going clinical trials . clinical trial and development agreements include contract services and outside contractor services including contracted clinical site services related to patient enrolment for our clinical trials . manufacturing development agreements include clinical manufacturing and manufacturing development and scale-up . we have executed a large-scale product supply agreement with lonza sales ag for the long-term commercial manufacture of soliris ( see note 9 ) . in order to maintain our rights under these agreements , we may be required to provide a minimum level of funding or support . we may elect to terminate these arrangements . accordingly , we recognize the expense and related obligation related to these arrangements over the period of performance . the minimum fixed payments ( assuming non-termination of the above agreements ) as of december 31 , 2007 , for each of the next five years are as follows : years ending december 31 , license agreements clinical and manufacturing development agreements . <table class='wikitable'><tr><td>1</td><td>years ending december 31,</td><td>license agreements</td><td>clinical and manufacturing development agreements</td></tr><tr><td>2</td><td>2008</td><td>$ 707</td><td>$ 2860</td></tr><tr><td>3</td><td>2009</td><td>552</td><td>3750</td></tr><tr><td>4</td><td>2010</td><td>322</td><td>7500</td></tr><tr><td>5</td><td>2011</td><td>300</td><td>7500</td></tr><tr><td>6</td><td>2012</td><td>300</td><td>7500</td></tr></table> . Conversations: q0: what was the net change in license agreements from 2008 to 2009? -155.0 Question: what was the value in 2008? Answer:

707.0

convfinqa8707

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: alexion pharmaceuticals , inc . notes to consolidated financial statements 2014 ( continued ) for the years ended december 31 , 2007 and 2006 , five month period ended december 31 , 2005 , and year ended july 31 , 2005 ( amounts in thousands , except share and per share amounts ) in 2006 , we completed a final phase iii trial of pexelizumab . after reviewing results from that trial , we along with p&g , determined not to pursue further development of pexelizumab . effective march 30 , 2007 , we and p&g mutually agreed to terminate the collaboration agreement . as the relevant agreement has been terminated in march 2007 , the remaining portion of the $ 10000 non-refundable up-front license fee , or $ 5343 , was recognized as revenue in the year ended december 31 , 2007 and is included in contract research revenues . license and research and development agreements we have entered into a number of license , research and development and manufacturing development agreements since our inception . these agreements have been made with various research institutions , universities , contractors , collaborators , and government agencies in order to advance and obtain technologies and services related to our business . license agreements generally provide for an initial fee followed by annual minimum royalty payments . additionally , certain agreements call for future payments upon the attainment of agreed upon milestones , such as , but not limited to , investigational new drug , or ind , application or approval of biologics license application . these agreements require minimum royalty payments based on sales of products developed from the applicable technologies , if any . clinical and manufacturing development agreements generally provide for us to fund manufacturing development and on-going clinical trials . clinical trial and development agreements include contract services and outside contractor services including contracted clinical site services related to patient enrolment for our clinical trials . manufacturing development agreements include clinical manufacturing and manufacturing development and scale-up . we have executed a large-scale product supply agreement with lonza sales ag for the long-term commercial manufacture of soliris ( see note 9 ) . in order to maintain our rights under these agreements , we may be required to provide a minimum level of funding or support . we may elect to terminate these arrangements . accordingly , we recognize the expense and related obligation related to these arrangements over the period of performance . the minimum fixed payments ( assuming non-termination of the above agreements ) as of december 31 , 2007 , for each of the next five years are as follows : years ending december 31 , license agreements clinical and manufacturing development agreements . <table class='wikitable'><tr><td>1</td><td>years ending december 31,</td><td>license agreements</td><td>clinical and manufacturing development agreements</td></tr><tr><td>2</td><td>2008</td><td>$ 707</td><td>$ 2860</td></tr><tr><td>3</td><td>2009</td><td>552</td><td>3750</td></tr><tr><td>4</td><td>2010</td><td>322</td><td>7500</td></tr><tr><td>5</td><td>2011</td><td>300</td><td>7500</td></tr><tr><td>6</td><td>2012</td><td>300</td><td>7500</td></tr></table> . Conversations: q0: what was the net change in license agreements from 2008 to 2009? -155.0 q1: what was the value in 2008? 707.0 Question: what is the net change divided by the 2008 value? Answer:

-0.21924

convfinqa8708

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: liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings . we continue to expect our operating cash flow to remain strong . as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s . as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate . these liabilities were recorded as part of the respective purchase price accounting of each transaction . the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 . as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 . the credit facility has been established with a diverse syndicate of banks . there were no borrowings under our credit facility as of december 31 , 2017 or 2016 . the credit facility supports our $ 2.0 billion u.s . commercial paper program and $ 2.0 billion european commercial paper program . combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion . at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s . commercial paper program . additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs . most of these lines are used to support global cash pooling structures . approximately $ 643 million of these credit lines were available for use as of year-end 2017 . bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions . we do not have any other significant unconditional purchase obligations or commercial commitments . as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s . as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively . a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities . should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds . in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility . we are in compliance with our debt covenants and other requirements of our credit agreements and indentures . a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: . <table class='wikitable'><tr><td>1</td><td>( millions )</td><td>total</td><td>payments due by period less than 1 year</td><td>payments due by period 2-3 years</td><td>payments due by period 4-5 years</td><td>payments due by period more than 5 years</td></tr><tr><td>2</td><td>notes payable</td><td>$ 15</td><td>$ 15</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>one-time transition tax</td><td>160</td><td>13</td><td>26</td><td>26</td><td>95</td></tr><tr><td>4</td><td>long-term debt</td><td>7303</td><td>549</td><td>696</td><td>1513</td><td>4545</td></tr><tr><td>5</td><td>capital lease obligations</td><td>5</td><td>1</td><td>1</td><td>1</td><td>2</td></tr><tr><td>6</td><td>operating leases</td><td>617</td><td>131</td><td>211</td><td>160</td><td>115</td></tr><tr><td>7</td><td>interest*</td><td>2753</td><td>242</td><td>436</td><td>375</td><td>1700</td></tr><tr><td>8</td><td>total</td><td>$ 10853</td><td>$ 951</td><td>$ 1370</td><td>$ 2075</td><td>$ 6457</td></tr></table> * interest on variable rate debt was calculated using the interest rate at year-end 2017 . during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act . the expense is primarily related to the one-time transition tax , which is payable over eight years . as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance . as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million . we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required . therefore , these amounts have been excluded from the schedule of contractual obligations. . Conversations: Question: what was the difference in cash and cash equivalents on hand between 2016 and 2017? Answer:

-116.0

convfinqa8709

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: liquidity and capital resources we currently expect to fund all of our cash requirements which are reasonably foreseeable for 2018 , including scheduled debt repayments , new investments in the business , share repurchases , dividend payments , possible business acquisitions and pension contributions , with cash from operating activities , and as needed , additional short-term and/or long-term borrowings . we continue to expect our operating cash flow to remain strong . as of december 31 , 2017 , we had $ 211 million of cash and cash equivalents on hand , of which $ 151 million was held outside of the as of december 31 , 2016 , we had $ 327 million of cash and cash equivalents on hand , of which $ 184 million was held outside of the u.s . as of december 31 , 2015 , we had $ 26 million of deferred tax liabilities for pre-acquisition foreign earnings associated with the legacy nalco entities and legacy champion entities that we intended to repatriate . these liabilities were recorded as part of the respective purchase price accounting of each transaction . the remaining foreign earnings were repatriated in 2016 , reducing the deferred tax liabilities to zero at december 31 , 2016 . as of december 31 , 2017 we had a $ 2.0 billion multi-year credit facility , which expires in november 2022 . the credit facility has been established with a diverse syndicate of banks . there were no borrowings under our credit facility as of december 31 , 2017 or 2016 . the credit facility supports our $ 2.0 billion u.s . commercial paper program and $ 2.0 billion european commercial paper program . combined borrowing under these two commercial paper programs may not exceed $ 2.0 billion . at year-end , we had no amount outstanding under the european commercial paper program and no amount outstanding under the u.s . commercial paper program . additionally , we have uncommitted credit lines of $ 660 million with major international banks and financial institutions to support our general global funding needs . most of these lines are used to support global cash pooling structures . approximately $ 643 million of these credit lines were available for use as of year-end 2017 . bank supported letters of credit , surety bonds and guarantees total $ 198 million and represent commercial business transactions . we do not have any other significant unconditional purchase obligations or commercial commitments . as of december 31 , 2017 , our short-term borrowing program was rated a-2 by standard & poor 2019s and p-2 by moody 2019s . as of december 31 , 2017 , standard & poor 2019s and moody 2019s rated our long-term credit at a- ( stable outlook ) and baa1 ( stable outlook ) , respectively . a reduction in our credit ratings could limit or preclude our ability to issue commercial paper under our current programs , or could also adversely affect our ability to renew existing , or negotiate new , credit facilities in the future and could increase the cost of these facilities . should this occur , we could seek additional sources of funding , including issuing additional term notes or bonds . in addition , we have the ability , at our option , to draw upon our $ 2.0 billion of committed credit facility . we are in compliance with our debt covenants and other requirements of our credit agreements and indentures . a schedule of our various obligations as of december 31 , 2017 are summarized in the following table: . <table class='wikitable'><tr><td>1</td><td>( millions )</td><td>total</td><td>payments due by period less than 1 year</td><td>payments due by period 2-3 years</td><td>payments due by period 4-5 years</td><td>payments due by period more than 5 years</td></tr><tr><td>2</td><td>notes payable</td><td>$ 15</td><td>$ 15</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>3</td><td>one-time transition tax</td><td>160</td><td>13</td><td>26</td><td>26</td><td>95</td></tr><tr><td>4</td><td>long-term debt</td><td>7303</td><td>549</td><td>696</td><td>1513</td><td>4545</td></tr><tr><td>5</td><td>capital lease obligations</td><td>5</td><td>1</td><td>1</td><td>1</td><td>2</td></tr><tr><td>6</td><td>operating leases</td><td>617</td><td>131</td><td>211</td><td>160</td><td>115</td></tr><tr><td>7</td><td>interest*</td><td>2753</td><td>242</td><td>436</td><td>375</td><td>1700</td></tr><tr><td>8</td><td>total</td><td>$ 10853</td><td>$ 951</td><td>$ 1370</td><td>$ 2075</td><td>$ 6457</td></tr></table> * interest on variable rate debt was calculated using the interest rate at year-end 2017 . during the fourth quarter of 2017 , we recorded a one-time transition tax related to enactment of the tax act . the expense is primarily related to the one-time transition tax , which is payable over eight years . as discussed further in note 12 , this balance is a provisional amount and is subject to adjustment during the measurement period of up to one year following the enactment of the tax act , as provided by recent sec guidance . as of december 31 , 2017 , our gross liability for uncertain tax positions was $ 68 million . we are not able to reasonably estimate the amount by which the liability will increase or decrease over an extended period of time or whether a cash settlement of the liability will be required . therefore , these amounts have been excluded from the schedule of contractual obligations. . Conversations: q0: what was the difference in cash and cash equivalents on hand between 2016 and 2017? -116.0 Question: and the growth rate during this time? Answer:

-0.35474

convfinqa8710

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 primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . the lower effective tax rate in 2010 as compared to 2009 is due primarily to an increase in foreign earnings on which u.s . income taxes have not been provided as such earnings are intended to be indefinitely reinvested outside the u.s . as of september 25 , 2010 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.4 billion , and deferred tax liabilities of $ 5.0 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . all irs audit issues for years prior to 2004 have been resolved . during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 25 , 2010 ( in millions ) : as of september 25 , 2010 , the company had $ 51 billion in cash , cash equivalents and marketable securities , an increase of $ 17 billion from september 26 , 2009 . the principal component of this net increase was the cash generated by operating activities of $ 18.6 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 638 million . the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities , generally with a minimum rating of single-a or equivalent . as of september 25 , 2010 and september 26 , 2009 , $ 30.8 billion and $ 17.4 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months. . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>cash cash equivalents and marketable securities</td><td>$ 51011</td><td>$ 33992</td><td>$ 24490</td></tr><tr><td>3</td><td>accounts receivable net</td><td>$ 5510</td><td>$ 3361</td><td>$ 2422</td></tr><tr><td>4</td><td>inventories</td><td>$ 1051</td><td>$ 455</td><td>$ 509</td></tr><tr><td>5</td><td>working capital</td><td>$ 20956</td><td>$ 20049</td><td>$ 18645</td></tr><tr><td>6</td><td>annual operating cash flow</td><td>$ 18595</td><td>$ 10159</td><td>$ 9596</td></tr></table> . Conversations: Question: what was the value of cash, cash equivalents and marketable securities in 2010? Answer:

51011.0

convfinqa8711

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 primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . the lower effective tax rate in 2010 as compared to 2009 is due primarily to an increase in foreign earnings on which u.s . income taxes have not been provided as such earnings are intended to be indefinitely reinvested outside the u.s . as of september 25 , 2010 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.4 billion , and deferred tax liabilities of $ 5.0 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . all irs audit issues for years prior to 2004 have been resolved . during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 25 , 2010 ( in millions ) : as of september 25 , 2010 , the company had $ 51 billion in cash , cash equivalents and marketable securities , an increase of $ 17 billion from september 26 , 2009 . the principal component of this net increase was the cash generated by operating activities of $ 18.6 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 638 million . the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities , generally with a minimum rating of single-a or equivalent . as of september 25 , 2010 and september 26 , 2009 , $ 30.8 billion and $ 17.4 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months. . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>cash cash equivalents and marketable securities</td><td>$ 51011</td><td>$ 33992</td><td>$ 24490</td></tr><tr><td>3</td><td>accounts receivable net</td><td>$ 5510</td><td>$ 3361</td><td>$ 2422</td></tr><tr><td>4</td><td>inventories</td><td>$ 1051</td><td>$ 455</td><td>$ 509</td></tr><tr><td>5</td><td>working capital</td><td>$ 20956</td><td>$ 20049</td><td>$ 18645</td></tr><tr><td>6</td><td>annual operating cash flow</td><td>$ 18595</td><td>$ 10159</td><td>$ 9596</td></tr></table> . Conversations: q0: what was the value of cash, cash equivalents and marketable securities in 2010? 51011.0 Question: what was the value in 2008? Answer:

24490.0

convfinqa8712

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 primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . the lower effective tax rate in 2010 as compared to 2009 is due primarily to an increase in foreign earnings on which u.s . income taxes have not been provided as such earnings are intended to be indefinitely reinvested outside the u.s . as of september 25 , 2010 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.4 billion , and deferred tax liabilities of $ 5.0 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . all irs audit issues for years prior to 2004 have been resolved . during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 25 , 2010 ( in millions ) : as of september 25 , 2010 , the company had $ 51 billion in cash , cash equivalents and marketable securities , an increase of $ 17 billion from september 26 , 2009 . the principal component of this net increase was the cash generated by operating activities of $ 18.6 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 638 million . the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities , generally with a minimum rating of single-a or equivalent . as of september 25 , 2010 and september 26 , 2009 , $ 30.8 billion and $ 17.4 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months. . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>cash cash equivalents and marketable securities</td><td>$ 51011</td><td>$ 33992</td><td>$ 24490</td></tr><tr><td>3</td><td>accounts receivable net</td><td>$ 5510</td><td>$ 3361</td><td>$ 2422</td></tr><tr><td>4</td><td>inventories</td><td>$ 1051</td><td>$ 455</td><td>$ 509</td></tr><tr><td>5</td><td>working capital</td><td>$ 20956</td><td>$ 20049</td><td>$ 18645</td></tr><tr><td>6</td><td>annual operating cash flow</td><td>$ 18595</td><td>$ 10159</td><td>$ 9596</td></tr></table> . Conversations: q0: what was the value of cash, cash equivalents and marketable securities in 2010? 51011.0 q1: what was the value in 2008? 24490.0 Question: what was the change in value? Answer:

26521.0

convfinqa8713

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 primarily to certain undistributed foreign earnings for which no u.s . taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s . the lower effective tax rate in 2010 as compared to 2009 is due primarily to an increase in foreign earnings on which u.s . income taxes have not been provided as such earnings are intended to be indefinitely reinvested outside the u.s . as of september 25 , 2010 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 2.4 billion , and deferred tax liabilities of $ 5.0 billion . management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets . the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance . the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments . the company has contested certain of these adjustments through the irs appeals office . the irs is currently examining the years 2007 through 2009 . all irs audit issues for years prior to 2004 have been resolved . during the third quarter of 2010 , the company reached a tax settlement with the irs for the years 2002 through 2003 . in addition , the company is subject to audits by state , local , and foreign tax authorities . management believes that adequate provision has been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs . liquidity and capital resources the following table presents selected financial information and statistics as of and for the three years ended september 25 , 2010 ( in millions ) : as of september 25 , 2010 , the company had $ 51 billion in cash , cash equivalents and marketable securities , an increase of $ 17 billion from september 26 , 2009 . the principal component of this net increase was the cash generated by operating activities of $ 18.6 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 2 billion and payments made in connection with business acquisitions , net of cash acquired , of $ 638 million . the company 2019s marketable securities investment portfolio is invested primarily in highly rated securities , generally with a minimum rating of single-a or equivalent . as of september 25 , 2010 and september 26 , 2009 , $ 30.8 billion and $ 17.4 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s . dollar-denominated holdings . the company believes its existing balances of cash , cash equivalents and marketable securities will be sufficient to satisfy its working capital needs , capital asset purchases , outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months. . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>cash cash equivalents and marketable securities</td><td>$ 51011</td><td>$ 33992</td><td>$ 24490</td></tr><tr><td>3</td><td>accounts receivable net</td><td>$ 5510</td><td>$ 3361</td><td>$ 2422</td></tr><tr><td>4</td><td>inventories</td><td>$ 1051</td><td>$ 455</td><td>$ 509</td></tr><tr><td>5</td><td>working capital</td><td>$ 20956</td><td>$ 20049</td><td>$ 18645</td></tr><tr><td>6</td><td>annual operating cash flow</td><td>$ 18595</td><td>$ 10159</td><td>$ 9596</td></tr></table> . Conversations: q0: what was the value of cash, cash equivalents and marketable securities in 2010? 51011.0 q1: what was the value in 2008? 24490.0 q2: what was the change in value? 26521.0 Question: what was the change divided by the 2008 value? Answer:

1.08293

convfinqa8714

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: entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 31.4 million primarily due to lower net revenue , higher depreciation and amortization expenses , higher other operation and maintenance expenses , and higher taxes other than income taxes . 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>amount ( in millions )</td></tr><tr><td>2</td><td>2016 net revenue</td><td>$ 644.2</td></tr><tr><td>3</td><td>net wholesale revenue</td><td>-35.1 ( 35.1 )</td></tr><tr><td>4</td><td>purchased power capacity</td><td>-5.9 ( 5.9 )</td></tr><tr><td>5</td><td>transmission revenue</td><td>-5.4 ( 5.4 )</td></tr><tr><td>6</td><td>reserve equalization</td><td>5.6</td></tr><tr><td>7</td><td>retail electric price</td><td>19.0</td></tr><tr><td>8</td><td>other</td><td>4.4</td></tr><tr><td>9</td><td>2017 net revenue</td><td>$ 626.8</td></tr></table> the net wholesale revenue variance is primarily due to lower net capacity revenues resulting from the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 . the purchased power capacity variance is primarily due to increased expenses due to capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to a decrease in the amount of transmission revenues allocated by miso . the reserve equalization variance is due to the absence of reserve equalization expenses in 2017 as a result of entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement. . Conversations: Question: what was the net revenue for 2017? Answer:

626.8

convfinqa8715

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: entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 31.4 million primarily due to lower net revenue , higher depreciation and amortization expenses , higher other operation and maintenance expenses , and higher taxes other than income taxes . 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>amount ( in millions )</td></tr><tr><td>2</td><td>2016 net revenue</td><td>$ 644.2</td></tr><tr><td>3</td><td>net wholesale revenue</td><td>-35.1 ( 35.1 )</td></tr><tr><td>4</td><td>purchased power capacity</td><td>-5.9 ( 5.9 )</td></tr><tr><td>5</td><td>transmission revenue</td><td>-5.4 ( 5.4 )</td></tr><tr><td>6</td><td>reserve equalization</td><td>5.6</td></tr><tr><td>7</td><td>retail electric price</td><td>19.0</td></tr><tr><td>8</td><td>other</td><td>4.4</td></tr><tr><td>9</td><td>2017 net revenue</td><td>$ 626.8</td></tr></table> the net wholesale revenue variance is primarily due to lower net capacity revenues resulting from the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 . the purchased power capacity variance is primarily due to increased expenses due to capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to a decrease in the amount of transmission revenues allocated by miso . the reserve equalization variance is due to the absence of reserve equalization expenses in 2017 as a result of entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement. . Conversations: q0: what was the net revenue for 2017? 626.8 Question: and for 2016? Answer:

644.2

convfinqa8716

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: entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 31.4 million primarily due to lower net revenue , higher depreciation and amortization expenses , higher other operation and maintenance expenses , and higher taxes other than income taxes . 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>amount ( in millions )</td></tr><tr><td>2</td><td>2016 net revenue</td><td>$ 644.2</td></tr><tr><td>3</td><td>net wholesale revenue</td><td>-35.1 ( 35.1 )</td></tr><tr><td>4</td><td>purchased power capacity</td><td>-5.9 ( 5.9 )</td></tr><tr><td>5</td><td>transmission revenue</td><td>-5.4 ( 5.4 )</td></tr><tr><td>6</td><td>reserve equalization</td><td>5.6</td></tr><tr><td>7</td><td>retail electric price</td><td>19.0</td></tr><tr><td>8</td><td>other</td><td>4.4</td></tr><tr><td>9</td><td>2017 net revenue</td><td>$ 626.8</td></tr></table> the net wholesale revenue variance is primarily due to lower net capacity revenues resulting from the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 . the purchased power capacity variance is primarily due to increased expenses due to capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to a decrease in the amount of transmission revenues allocated by miso . the reserve equalization variance is due to the absence of reserve equalization expenses in 2017 as a result of entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement. . Conversations: q0: what was the net revenue for 2017? 626.8 q1: and for 2016? 644.2 Question: and the difference between the two years? Answer:

-17.4

convfinqa8717

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: entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 31.4 million primarily due to lower net revenue , higher depreciation and amortization expenses , higher other operation and maintenance expenses , and higher taxes other than income taxes . 2016 compared to 2015 net income increased $ 37.9 million primarily due to lower other operation and maintenance expenses , the asset write-off of its receivable associated with the spindletop gas storage facility in 2015 , and higher net revenue . net revenue 2017 compared to 2016 net revenue consists of operating revenues net of : 1 ) fuel , fuel-related expenses , and gas purchased for resale , 2 ) purchased power expenses , and 3 ) other regulatory charges . following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) . <table class='wikitable'><tr><td>1</td><td></td><td>amount ( in millions )</td></tr><tr><td>2</td><td>2016 net revenue</td><td>$ 644.2</td></tr><tr><td>3</td><td>net wholesale revenue</td><td>-35.1 ( 35.1 )</td></tr><tr><td>4</td><td>purchased power capacity</td><td>-5.9 ( 5.9 )</td></tr><tr><td>5</td><td>transmission revenue</td><td>-5.4 ( 5.4 )</td></tr><tr><td>6</td><td>reserve equalization</td><td>5.6</td></tr><tr><td>7</td><td>retail electric price</td><td>19.0</td></tr><tr><td>8</td><td>other</td><td>4.4</td></tr><tr><td>9</td><td>2017 net revenue</td><td>$ 626.8</td></tr></table> the net wholesale revenue variance is primarily due to lower net capacity revenues resulting from the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 . the purchased power capacity variance is primarily due to increased expenses due to capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to a decrease in the amount of transmission revenues allocated by miso . the reserve equalization variance is due to the absence of reserve equalization expenses in 2017 as a result of entergy texas 2019s exit from the system agreement in august 2016 . see note 2 to the financial statements for a discussion of the system agreement. . Conversations: q0: what was the net revenue for 2017? 626.8 q1: and for 2016? 644.2 q2: and the difference between the two years? -17.4 Question: and the percentage change? Answer:

-0.02701

convfinqa8718

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: performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 81805 common stockholders of record as of january 31 , 2016 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2015 . the graph and table assume that $ 100 was invested on december 31 , 2010 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested . comparison of five-year cumulative total return for the years ended date citi s&p 500 financials . <table class='wikitable'><tr><td>1</td><td>date</td><td>citi</td><td>s&p 500</td><td>s&p financials</td></tr><tr><td>2</td><td>31-dec-2010</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>30-dec-2011</td><td>55.67</td><td>102.11</td><td>82.94</td></tr><tr><td>4</td><td>31-dec-2012</td><td>83.81</td><td>118.45</td><td>106.84</td></tr><tr><td>5</td><td>31-dec-2013</td><td>110.49</td><td>156.82</td><td>144.90</td></tr><tr><td>6</td><td>31-dec-2014</td><td>114.83</td><td>178.28</td><td>166.93</td></tr><tr><td>7</td><td>31-dec-2015</td><td>110.14</td><td>180.75</td><td>164.39</td></tr></table> . Conversations: Question: what was the value of citi in 2013 less the initial $100 investment? Answer:

10.49

convfinqa8719

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: performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 81805 common stockholders of record as of january 31 , 2016 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2015 . the graph and table assume that $ 100 was invested on december 31 , 2010 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested . comparison of five-year cumulative total return for the years ended date citi s&p 500 financials . <table class='wikitable'><tr><td>1</td><td>date</td><td>citi</td><td>s&p 500</td><td>s&p financials</td></tr><tr><td>2</td><td>31-dec-2010</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>30-dec-2011</td><td>55.67</td><td>102.11</td><td>82.94</td></tr><tr><td>4</td><td>31-dec-2012</td><td>83.81</td><td>118.45</td><td>106.84</td></tr><tr><td>5</td><td>31-dec-2013</td><td>110.49</td><td>156.82</td><td>144.90</td></tr><tr><td>6</td><td>31-dec-2014</td><td>114.83</td><td>178.28</td><td>166.93</td></tr><tr><td>7</td><td>31-dec-2015</td><td>110.14</td><td>180.75</td><td>164.39</td></tr></table> . Conversations: q0: what was the value of citi in 2013 less the initial $100 investment? 10.49 Question: what was the value of the s&p in 2013? Answer:

156.82

convfinqa8720

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: performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 81805 common stockholders of record as of january 31 , 2016 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2015 . the graph and table assume that $ 100 was invested on december 31 , 2010 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested . comparison of five-year cumulative total return for the years ended date citi s&p 500 financials . <table class='wikitable'><tr><td>1</td><td>date</td><td>citi</td><td>s&p 500</td><td>s&p financials</td></tr><tr><td>2</td><td>31-dec-2010</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>30-dec-2011</td><td>55.67</td><td>102.11</td><td>82.94</td></tr><tr><td>4</td><td>31-dec-2012</td><td>83.81</td><td>118.45</td><td>106.84</td></tr><tr><td>5</td><td>31-dec-2013</td><td>110.49</td><td>156.82</td><td>144.90</td></tr><tr><td>6</td><td>31-dec-2014</td><td>114.83</td><td>178.28</td><td>166.93</td></tr><tr><td>7</td><td>31-dec-2015</td><td>110.14</td><td>180.75</td><td>164.39</td></tr></table> . Conversations: q0: what was the value of citi in 2013 less the initial $100 investment? 10.49 q1: what was the value of the s&p in 2013? 156.82 Question: what is the value of that less an initial $100 investment Answer:

56.82

convfinqa8721

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: performance graph comparison of five-year cumulative total return the following graph and table compare the cumulative total return on citi 2019s common stock , which is listed on the nyse under the ticker symbol 201cc 201d and held by 81805 common stockholders of record as of january 31 , 2016 , with the cumulative total return of the s&p 500 index and the s&p financial index over the five-year period through december 31 , 2015 . the graph and table assume that $ 100 was invested on december 31 , 2010 in citi 2019s common stock , the s&p 500 index and the s&p financial index , and that all dividends were reinvested . comparison of five-year cumulative total return for the years ended date citi s&p 500 financials . <table class='wikitable'><tr><td>1</td><td>date</td><td>citi</td><td>s&p 500</td><td>s&p financials</td></tr><tr><td>2</td><td>31-dec-2010</td><td>100.00</td><td>100.00</td><td>100.00</td></tr><tr><td>3</td><td>30-dec-2011</td><td>55.67</td><td>102.11</td><td>82.94</td></tr><tr><td>4</td><td>31-dec-2012</td><td>83.81</td><td>118.45</td><td>106.84</td></tr><tr><td>5</td><td>31-dec-2013</td><td>110.49</td><td>156.82</td><td>144.90</td></tr><tr><td>6</td><td>31-dec-2014</td><td>114.83</td><td>178.28</td><td>166.93</td></tr><tr><td>7</td><td>31-dec-2015</td><td>110.14</td><td>180.75</td><td>164.39</td></tr></table> . Conversations: q0: what was the value of citi in 2013 less the initial $100 investment? 10.49 q1: what was the value of the s&p in 2013? 156.82 q2: what is the value of that less an initial $100 investment 56.82 Question: what is the normalized ratio of citi to the s&p in 2013? Answer:

0.18462

convfinqa8722

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: 2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 . <table class='wikitable'><tr><td>1</td><td></td><td>september 18 2008</td><td>september 30 2008</td><td>december 31 2008</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 103.19</td><td>$ 102.53</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 105.54</td><td>$ 78.53</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 88.50</td><td>$ 83.69</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 96.54</td><td>$ 74.86</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 92.67</td><td>$ 68.79</td></tr></table> s&p 500 peer group . Conversations: Question: from september 30 to december 31 of 2008, what was the decline in the performance price of the s&p 500? Answer:

21.68

convfinqa8723

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: 2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 . <table class='wikitable'><tr><td>1</td><td></td><td>september 18 2008</td><td>september 30 2008</td><td>december 31 2008</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 103.19</td><td>$ 102.53</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 105.54</td><td>$ 78.53</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 88.50</td><td>$ 83.69</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 96.54</td><td>$ 74.86</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 92.67</td><td>$ 68.79</td></tr></table> s&p 500 peer group . Conversations: q0: from september 30 to december 31 of 2008, what was the decline in the performance price of the s&p 500? 21.68 Question: and what was that price in december 31? Answer:

74.86

convfinqa8724

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: 2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 . <table class='wikitable'><tr><td>1</td><td></td><td>september 18 2008</td><td>september 30 2008</td><td>december 31 2008</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 103.19</td><td>$ 102.53</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 105.54</td><td>$ 78.53</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 88.50</td><td>$ 83.69</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 96.54</td><td>$ 74.86</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 92.67</td><td>$ 68.79</td></tr></table> s&p 500 peer group . Conversations: q0: from september 30 to december 31 of 2008, what was the decline in the performance price of the s&p 500? 21.68 q1: and what was that price in december 31? 74.86 Question: what is, then, that decline as a portion of this december amount? Answer:

0.28961

convfinqa8725

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: 2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 . <table class='wikitable'><tr><td>1</td><td></td><td>september 18 2008</td><td>september 30 2008</td><td>december 31 2008</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 103.19</td><td>$ 102.53</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 105.54</td><td>$ 78.53</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 88.50</td><td>$ 83.69</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 96.54</td><td>$ 74.86</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 92.67</td><td>$ 68.79</td></tr></table> s&p 500 peer group . Conversations: q0: from september 30 to december 31 of 2008, what was the decline in the performance price of the s&p 500? 21.68 q1: and what was that price in december 31? 74.86 q2: what is, then, that decline as a portion of this december amount? 0.28961 Question: and as of that same date, what was the performance price of the disck stock? Answer:

83.69

convfinqa8726

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: 2 0 0 8 a n n u a l r e p o r t stock performance graph the following graph sets forth the performance of our series a common , series b common stock , and series c common stock for the period september 18 , 2008 through december 31 , 2008 as compared with the performance of the standard and poor 2019s 500 index and a peer group index which consists of the walt disney company , time warner inc. , cbs corporation class b common stock , viacom , inc . class b common stock , news corporation class a common stock , and scripps network interactive , inc . the graph assumes $ 100 originally invested on september 18 , 2006 and that all subsequent dividends were reinvested in additional shares . september 18 , september 30 , december 31 , 2008 2008 2008 . <table class='wikitable'><tr><td>1</td><td></td><td>september 18 2008</td><td>september 30 2008</td><td>december 31 2008</td></tr><tr><td>2</td><td>disca</td><td>$ 100.00</td><td>$ 103.19</td><td>$ 102.53</td></tr><tr><td>3</td><td>discb</td><td>$ 100.00</td><td>$ 105.54</td><td>$ 78.53</td></tr><tr><td>4</td><td>disck</td><td>$ 100.00</td><td>$ 88.50</td><td>$ 83.69</td></tr><tr><td>5</td><td>s&p 500</td><td>$ 100.00</td><td>$ 96.54</td><td>$ 74.86</td></tr><tr><td>6</td><td>peer group</td><td>$ 100.00</td><td>$ 92.67</td><td>$ 68.79</td></tr></table> s&p 500 peer group . Conversations: q0: from september 30 to december 31 of 2008, what was the decline in the performance price of the s&p 500? 21.68 q1: and what was that price in december 31? 74.86 q2: what is, then, that decline as a portion of this december amount? 0.28961 q3: and as of that same date, what was the performance price of the disck stock? 83.69 Question: which price, then, was greater at december 31: the s&p 500 or the disck one? Answer:

yes

convfinqa8727

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: blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds . in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) . <table class='wikitable'><tr><td>1</td><td>2010</td><td>$ 160</td></tr><tr><td>2</td><td>2011</td><td>157</td></tr><tr><td>3</td><td>2012</td><td>156</td></tr><tr><td>4</td><td>2013</td><td>155</td></tr><tr><td>5</td><td>2014</td><td>149</td></tr></table> indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products . on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products . on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds . in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products . on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts . indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million . the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally . 13 . borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion . the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 . the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 . during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 . lehman commercial paper inc . has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc . will honor its commitment to fund additional amounts . bank of america , a related party , has a $ 140 million participation under the 2007 facility . in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million . in decem- ber 2008 , the letters of credit were terminated . commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion . the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction . subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program . the cp program is supported by the 2007 facility . the company began issuance of cp notes under the cp program on november 4 , 2009 . as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days . since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 . as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days . japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) . the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate . in june 2009 , blackrock japan co. , ltd . renewed the japan commitment-line for a term of one year . the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan . at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line . convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum . interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 . prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances . the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company . on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate . at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) . the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) . the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price . in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price . the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm . Conversations: Question: what was the change in estimated amortization expense for finite-lived intangible assets from 2010 to 2011? Answer:

3.0

convfinqa8728

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: blackrock n 96 n notes in april 2009 , the company acquired $ 2 million of finite- lived management contracts with a five-year estimated useful life associated with the acquisition of the r3 capital partners funds . in december 2009 , in conjunction with the bgi trans- action , the company acquired $ 163 million of finite- lived management contracts with a weighted-average estimated useful life of approximately 10 years . estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows : ( dollar amounts in millions ) . <table class='wikitable'><tr><td>1</td><td>2010</td><td>$ 160</td></tr><tr><td>2</td><td>2011</td><td>157</td></tr><tr><td>3</td><td>2012</td><td>156</td></tr><tr><td>4</td><td>2013</td><td>155</td></tr><tr><td>5</td><td>2014</td><td>149</td></tr></table> indefinite-lived acquired management contracts on september 29 , 2006 , in conjunction with the mlim transaction , the company acquired indefinite-lived man- agement contracts valued at $ 4477 million consisting of $ 4271 million for all retail mutual funds and $ 206 million for alternative investment products . on october 1 , 2007 , in conjunction with the quellos transaction , the company acquired $ 631 million in indefinite-lived management contracts associated with alternative investment products . on october 1 , 2007 , the company purchased the remain- ing 20% ( 20 % ) of an investment manager of a fund of hedge funds . in conjunction with this transaction , the company recorded $ 8 million in additional indefinite-lived management contracts associated with alternative investment products . on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired $ 9785 million in indefinite-lived management contracts valued consisting primarily for exchange traded funds and common and collective trusts . indefinite-lived acquired trade names/trademarks on december 1 , 2009 , in conjunction with the bgi transaction , the company acquired trade names/ trademarks primarily related to ishares valued at $ 1402.5 million . the fair value was determined using a royalty rate based primarily on normalized marketing and promotion expenditures to develop and support the brands globally . 13 . borrowings short-term borrowings 2007 facility in august 2007 , the company entered into a five-year $ 2.5 billion unsecured revolving credit facility ( the 201c2007 facility 201d ) , which permits the company to request an additional $ 500 million of borrowing capacity , subject to lender credit approval , up to a maximum of $ 3.0 billion . the 2007 facility requires the company not to exceed a maximum leverage ratio ( ratio of net debt to earnings before interest , taxes , depreciation and amortiza- tion , where net debt equals total debt less domestic unrestricted cash ) of 3 to 1 , which was satisfied with a ratio of less than 1 to 1 at december 31 , 2009 . the 2007 facility provides back-up liquidity , funds ongoing working capital for general corporate purposes and funds various investment opportunities . at december 31 , 2009 , the company had $ 200 million outstanding under the 2007 facility with an interest rate of 0.44% ( 0.44 % ) and a maturity date during february 2010 . during february 2010 , the company rolled over $ 100 million in borrowings with an interest rate of 0.43% ( 0.43 % ) and a maturity date in may 2010 . lehman commercial paper inc . has a $ 140 million participation under the 2007 facility ; however blackrock does not expect that lehman commercial paper inc . will honor its commitment to fund additional amounts . bank of america , a related party , has a $ 140 million participation under the 2007 facility . in december 2007 , in order to support two enhanced cash funds that blackrock manages , blackrock elected to procure two letters of credit under the existing 2007 facility in an aggregate amount of $ 100 million . in decem- ber 2008 , the letters of credit were terminated . commercial paper program on october 14 , 2009 , blackrock established a com- mercial paper program ( the 201ccp program 201d ) under which the company may issue unsecured commercial paper notes ( the 201ccp notes 201d ) on a private placement basis up to a maximum aggregate amount outstanding at any time of $ 3 billion . the proceeds of the commercial paper issuances were used for the financing of a portion of the bgi transaction . subsidiaries of bank of america and barclays , as well as other third parties , act as dealers under the cp program . the cp program is supported by the 2007 facility . the company began issuance of cp notes under the cp program on november 4 , 2009 . as of december 31 , 2009 , blackrock had approximately $ 2 billion of out- standing cp notes with a weighted average interest rate of 0.20% ( 0.20 % ) and a weighted average maturity of 23 days . since december 31 , 2009 , the company repaid approxi- mately $ 1.4 billion of cp notes with proceeds from the long-term notes issued in december 2009 . as of march 5 , 2010 , blackrock had $ 596 million of outstanding cp notes with a weighted average interest rate of 0.18% ( 0.18 % ) and a weighted average maturity of 38 days . japan commitment-line in june 2008 , blackrock japan co. , ltd. , a wholly owned subsidiary of the company , entered into a five billion japanese yen commitment-line agreement with a bank- ing institution ( the 201cjapan commitment-line 201d ) . the term of the japan commitment-line was one year and interest accrued at the applicable japanese short-term prime rate . in june 2009 , blackrock japan co. , ltd . renewed the japan commitment-line for a term of one year . the japan commitment-line is intended to provide liquid- ity and flexibility for operating requirements in japan . at december 31 , 2009 , the company had no borrowings outstanding on the japan commitment-line . convertible debentures in february 2005 , the company issued $ 250 million aggregate principal amount of convertible debentures ( the 201cdebentures 201d ) , due in 2035 and bearing interest at a rate of 2.625% ( 2.625 % ) per annum . interest is payable semi- annually in arrears on february 15 and august 15 of each year , and commenced august 15 , 2005 . prior to february 15 , 2009 , the debentures could have been convertible at the option of the holder at a decem- ber 31 , 2008 conversion rate of 9.9639 shares of common stock per one dollar principal amount of debentures under certain circumstances . the debentures would have been convertible into cash and , in some situations as described below , additional shares of the company 2019s common stock , if during the five business day period after any five consecutive trading day period the trading price per debenture for each day of such period is less than 103% ( 103 % ) of the product of the last reported sales price of blackrock 2019s common stock and the conversion rate of the debentures on each such day or upon the occurrence of certain other corporate events , such as a distribution to the holders of blackrock common stock of certain rights , assets or debt securities , if the company becomes party to a merger , consolidation or transfer of all or substantially all of its assets or a change of control of the company . on february 15 , 2009 , the debentures became convertible into cash at any time prior to maturity at the option of the holder and , in some situations as described below , additional shares of the company 2019s common stock at the current conversion rate . at the time the debentures are tendered for conver- sion , for each one dollar principal amount of debentures converted , a holder shall be entitled to receive cash and shares of blackrock common stock , if any , the aggregate value of which ( the 201cconversion value 201d ) will be deter- mined by multiplying the applicable conversion rate by the average of the daily volume weighted average price of blackrock common stock for each of the ten consecutive trading days beginning on the second trading day imme- diately following the day the debentures are tendered for conversion ( the 201cten-day weighted average price 201d ) . the company will deliver the conversion value to holders as follows : ( 1 ) an amount in cash ( the 201cprincipal return 201d ) equal to the lesser of ( a ) the aggregate conversion value of the debentures to be converted and ( b ) the aggregate principal amount of the debentures to be converted , and ( 2 ) if the aggregate conversion value of the debentures to be converted is greater than the principal return , an amount in shares ( the 201cnet shares 201d ) , determined as set forth below , equal to such aggregate conversion value less the principal return ( the 201cnet share amount 201d ) . the number of net shares to be paid will be determined by dividing the net share amount by the ten-day weighted average price . in lieu of delivering fractional shares , the company will deliver cash based on the ten-day weighted average price . the conversion rate for the debentures is subject to adjustments upon the occurrence of certain corporate events , such as a change of control of the company , 193253ti_txt.indd 96 4/2/10 1:18 pm . Conversations: q0: what was the change in estimated amortization expense for finite-lived intangible assets from 2010 to 2011? 3.0 Question: and how much does this change represent in relation to that estimated amortization expense in 2010, in percentage? Answer:

0.01911

convfinqa8729

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 table below summarizes activity of rsus with performance conditions for the year ended december 31 , shares ( in thousands ) weighted average grant date fair value ( per share ) . <table class='wikitable'><tr><td>1</td><td></td><td>shares ( in thousands )</td><td>weightedaverage grantdate fair value ( per share )</td></tr><tr><td>2</td><td>non-vested total as of december 31 2016</td><td>309</td><td>$ 55.94</td></tr><tr><td>3</td><td>granted</td><td>186</td><td>63.10</td></tr><tr><td>4</td><td>vested</td><td>-204 ( 204 )</td><td>46.10</td></tr><tr><td>5</td><td>forfeited</td><td>-10 ( 10 )</td><td>70.50</td></tr><tr><td>6</td><td>non-vested total as of december 31 2017</td><td>281</td><td>$ 67.33</td></tr></table> as of december 31 , 2017 , $ 6 million of total unrecognized compensation cost related to the nonvested rsus , with and without performance conditions , is expected to be recognized over the weighted-average remaining life of 1.5 years . the total fair value of rsus , with and without performance conditions , vested was $ 16 million , $ 14 million and $ 12 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . if dividends are paid with respect to shares of the company 2019s common stock before the rsus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus were shares of company common stock . when the rsus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued . the company accrued dividend equivalents totaling less than $ 1 million , $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in stockholders 2019 equity for the years ended december 31 , 2017 , 2016 and 2015 , respectively . employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three-month purchase period . on february 15 , 2017 , the board adopted the american water works company , inc . and its designated subsidiaries 2017 nonqualified employee stock purchase plan , which was approved by stockholders on may 12 , 2017 and took effect on august 5 , 2017 . the prior plan was terminated as to new purchases of company stock effective august 31 , 2017 . as of december 31 , 2017 , there were 2.0 million shares of common stock reserved for issuance under the espp . the espp is considered compensatory . during the years ended december 31 , 2017 , 2016 and 2015 , the company issued 93 thousand , 93 thousand and 98 thousand shares , respectively , under the espp. . Conversations: Question: what was the difference between the non-vested rsu's of 2017 and of 2016? Answer:

-28.0

convfinqa8730

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 table below summarizes activity of rsus with performance conditions for the year ended december 31 , shares ( in thousands ) weighted average grant date fair value ( per share ) . <table class='wikitable'><tr><td>1</td><td></td><td>shares ( in thousands )</td><td>weightedaverage grantdate fair value ( per share )</td></tr><tr><td>2</td><td>non-vested total as of december 31 2016</td><td>309</td><td>$ 55.94</td></tr><tr><td>3</td><td>granted</td><td>186</td><td>63.10</td></tr><tr><td>4</td><td>vested</td><td>-204 ( 204 )</td><td>46.10</td></tr><tr><td>5</td><td>forfeited</td><td>-10 ( 10 )</td><td>70.50</td></tr><tr><td>6</td><td>non-vested total as of december 31 2017</td><td>281</td><td>$ 67.33</td></tr></table> as of december 31 , 2017 , $ 6 million of total unrecognized compensation cost related to the nonvested rsus , with and without performance conditions , is expected to be recognized over the weighted-average remaining life of 1.5 years . the total fair value of rsus , with and without performance conditions , vested was $ 16 million , $ 14 million and $ 12 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . if dividends are paid with respect to shares of the company 2019s common stock before the rsus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus were shares of company common stock . when the rsus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued . the company accrued dividend equivalents totaling less than $ 1 million , $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in stockholders 2019 equity for the years ended december 31 , 2017 , 2016 and 2015 , respectively . employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three-month purchase period . on february 15 , 2017 , the board adopted the american water works company , inc . and its designated subsidiaries 2017 nonqualified employee stock purchase plan , which was approved by stockholders on may 12 , 2017 and took effect on august 5 , 2017 . the prior plan was terminated as to new purchases of company stock effective august 31 , 2017 . as of december 31 , 2017 , there were 2.0 million shares of common stock reserved for issuance under the espp . the espp is considered compensatory . during the years ended december 31 , 2017 , 2016 and 2015 , the company issued 93 thousand , 93 thousand and 98 thousand shares , respectively , under the espp. . Conversations: q0: what was the difference between the non-vested rsu's of 2017 and of 2016? -28.0 Question: and what was the total of non-vested rsu's in 2016? Answer:

309.0

convfinqa8731

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 table below summarizes activity of rsus with performance conditions for the year ended december 31 , shares ( in thousands ) weighted average grant date fair value ( per share ) . <table class='wikitable'><tr><td>1</td><td></td><td>shares ( in thousands )</td><td>weightedaverage grantdate fair value ( per share )</td></tr><tr><td>2</td><td>non-vested total as of december 31 2016</td><td>309</td><td>$ 55.94</td></tr><tr><td>3</td><td>granted</td><td>186</td><td>63.10</td></tr><tr><td>4</td><td>vested</td><td>-204 ( 204 )</td><td>46.10</td></tr><tr><td>5</td><td>forfeited</td><td>-10 ( 10 )</td><td>70.50</td></tr><tr><td>6</td><td>non-vested total as of december 31 2017</td><td>281</td><td>$ 67.33</td></tr></table> as of december 31 , 2017 , $ 6 million of total unrecognized compensation cost related to the nonvested rsus , with and without performance conditions , is expected to be recognized over the weighted-average remaining life of 1.5 years . the total fair value of rsus , with and without performance conditions , vested was $ 16 million , $ 14 million and $ 12 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . if dividends are paid with respect to shares of the company 2019s common stock before the rsus are distributed , the company credits a liability for the value of the dividends that would have been paid if the rsus were shares of company common stock . when the rsus are distributed , the company pays the participant a lump sum cash payment equal to the value of the dividend equivalents accrued . the company accrued dividend equivalents totaling less than $ 1 million , $ 1 million and $ 1 million to accumulated deficit in the accompanying consolidated statements of changes in stockholders 2019 equity for the years ended december 31 , 2017 , 2016 and 2015 , respectively . employee stock purchase plan the company maintains a nonqualified employee stock purchase plan ( the 201cespp 201d ) through which employee participants may use payroll deductions to acquire company common stock at the lesser of 90% ( 90 % ) of the fair market value of the common stock at either the beginning or the end of a three-month purchase period . on february 15 , 2017 , the board adopted the american water works company , inc . and its designated subsidiaries 2017 nonqualified employee stock purchase plan , which was approved by stockholders on may 12 , 2017 and took effect on august 5 , 2017 . the prior plan was terminated as to new purchases of company stock effective august 31 , 2017 . as of december 31 , 2017 , there were 2.0 million shares of common stock reserved for issuance under the espp . the espp is considered compensatory . during the years ended december 31 , 2017 , 2016 and 2015 , the company issued 93 thousand , 93 thousand and 98 thousand shares , respectively , under the espp. . Conversations: q0: what was the difference between the non-vested rsu's of 2017 and of 2016? -28.0 q1: and what was the total of non-vested rsu's in 2016? 309.0 Question: how much does that difference represent in relation to this total? Answer:

-0.09061

convfinqa8732

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: operating lease agreements . included in these amounts was contingent rent expense of $ 3.6 million , $ 2.0 million and $ 0.6 million for the years ended december 31 , 2011 , 2010 and 2009 , respectively . the operating lease obligations included above do not include any contingent rent . sponsorships and other marketing commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 , 2011 : ( in thousands ) . <table class='wikitable'><tr><td>1</td><td>2012</td><td>$ 52855</td></tr><tr><td>2</td><td>2013</td><td>46910</td></tr><tr><td>3</td><td>2014</td><td>42514</td></tr><tr><td>4</td><td>2015</td><td>22689</td></tr><tr><td>5</td><td>2016</td><td>3580</td></tr><tr><td>6</td><td>2017 and thereafter</td><td>966</td></tr><tr><td>7</td><td>total future minimum sponsorship and other marketing payments</td><td>$ 169514</td></tr></table> the amounts listed above are the minimum obligations required to be paid under the company 2019s sponsorship and other marketing agreements . the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements . it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products . the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives . in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers . the company is , from time to time , involved in routine legal matters incidental to its business . the company believes that the ultimate resolution of any such current proceedings and claims will not have a material adverse effect on its consolidated financial position , results of operations or cash flows . in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items . generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith . based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations . 9 . stockholders 2019 equity the company 2019s class a common stock and class b convertible common stock have an authorized number of shares of 100.0 million shares and 11.3 million shares , respectively , and each have a par value of $ 0.0003 1/3 per share . holders of class a common stock and class b convertible common stock have identical rights , including liquidation preferences , except that the holders of class a common stock are entitled to one vote per share and holders of class b convertible common stock are entitled to 10 votes per share on all matters submitted to a stockholder vote . class b convertible common stock may only be held by kevin plank . Conversations: Question: what was the change in rent expense from 2010 to 2011? Answer:

1.6

convfinqa8733

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: operating lease agreements . included in these amounts was contingent rent expense of $ 3.6 million , $ 2.0 million and $ 0.6 million for the years ended december 31 , 2011 , 2010 and 2009 , respectively . the operating lease obligations included above do not include any contingent rent . sponsorships and other marketing commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 , 2011 : ( in thousands ) . <table class='wikitable'><tr><td>1</td><td>2012</td><td>$ 52855</td></tr><tr><td>2</td><td>2013</td><td>46910</td></tr><tr><td>3</td><td>2014</td><td>42514</td></tr><tr><td>4</td><td>2015</td><td>22689</td></tr><tr><td>5</td><td>2016</td><td>3580</td></tr><tr><td>6</td><td>2017 and thereafter</td><td>966</td></tr><tr><td>7</td><td>total future minimum sponsorship and other marketing payments</td><td>$ 169514</td></tr></table> the amounts listed above are the minimum obligations required to be paid under the company 2019s sponsorship and other marketing agreements . the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements . it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products . the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives . in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers . the company is , from time to time , involved in routine legal matters incidental to its business . the company believes that the ultimate resolution of any such current proceedings and claims will not have a material adverse effect on its consolidated financial position , results of operations or cash flows . in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items . generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith . based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations . 9 . stockholders 2019 equity the company 2019s class a common stock and class b convertible common stock have an authorized number of shares of 100.0 million shares and 11.3 million shares , respectively , and each have a par value of $ 0.0003 1/3 per share . holders of class a common stock and class b convertible common stock have identical rights , including liquidation preferences , except that the holders of class a common stock are entitled to one vote per share and holders of class b convertible common stock are entitled to 10 votes per share on all matters submitted to a stockholder vote . class b convertible common stock may only be held by kevin plank . Conversations: q0: what was the change in rent expense from 2010 to 2011? 1.6 Question: and the percentage change during this time? Answer:

0.8

convfinqa8734

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: operating lease agreements . included in these amounts was contingent rent expense of $ 3.6 million , $ 2.0 million and $ 0.6 million for the years ended december 31 , 2011 , 2010 and 2009 , respectively . the operating lease obligations included above do not include any contingent rent . sponsorships and other marketing commitments within the normal course of business , the company enters into contractual commitments in order to promote the company 2019s brand and products . these commitments include sponsorship agreements with teams and athletes on the collegiate and professional levels , official supplier agreements , athletic event sponsorships and other marketing commitments . the following is a schedule of the company 2019s future minimum payments under its sponsorship and other marketing agreements as of december 31 , 2011 : ( in thousands ) . <table class='wikitable'><tr><td>1</td><td>2012</td><td>$ 52855</td></tr><tr><td>2</td><td>2013</td><td>46910</td></tr><tr><td>3</td><td>2014</td><td>42514</td></tr><tr><td>4</td><td>2015</td><td>22689</td></tr><tr><td>5</td><td>2016</td><td>3580</td></tr><tr><td>6</td><td>2017 and thereafter</td><td>966</td></tr><tr><td>7</td><td>total future minimum sponsorship and other marketing payments</td><td>$ 169514</td></tr></table> the amounts listed above are the minimum obligations required to be paid under the company 2019s sponsorship and other marketing agreements . the amounts listed above do not include additional performance incentives and product supply obligations provided under certain agreements . it is not possible to determine how much the company will spend on product supply obligations on an annual basis as contracts generally do not stipulate specific cash amounts to be spent on products . the amount of product provided to the sponsorships depends on many factors including general playing conditions , the number of sporting events in which they participate and the company 2019s decisions regarding product and marketing initiatives . in addition , the costs to design , develop , source and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers . the company is , from time to time , involved in routine legal matters incidental to its business . the company believes that the ultimate resolution of any such current proceedings and claims will not have a material adverse effect on its consolidated financial position , results of operations or cash flows . in connection with various contracts and agreements , the company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items . generally , such indemnification obligations do not apply in situations in which the counterparties are grossly negligent , engage in willful misconduct , or act in bad faith . based on the company 2019s historical experience and the estimated probability of future loss , the company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations . 9 . stockholders 2019 equity the company 2019s class a common stock and class b convertible common stock have an authorized number of shares of 100.0 million shares and 11.3 million shares , respectively , and each have a par value of $ 0.0003 1/3 per share . holders of class a common stock and class b convertible common stock have identical rights , including liquidation preferences , except that the holders of class a common stock are entitled to one vote per share and holders of class b convertible common stock are entitled to 10 votes per share on all matters submitted to a stockholder vote . class b convertible common stock may only be held by kevin plank . Conversations: q0: what was the change in rent expense from 2010 to 2011? 1.6 q1: and the percentage change during this time? 0.8 Question: what was the percentage of the company 2019s future minimum payments under its sponsorship and other marketing agreements to the total as of 12/31/12? Answer:

0.3118

convfinqa8735

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: contracts and customer purchase orders are generally used to determine the existence of an arrangement . shipping documents are used to verify delivery . the company assesses whether the selling price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment . the company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analysis , as well as the customer 2019s payment history . accruals for customer returns for defective product are based on historical experience with similar types of sales . accruals for rebates and incentives are based on pricing agreements and are generally tied to sales volume . changes in such accruals may be required if future returns differ from historical experience or if actual sales volume differ from estimated sales volume . rebates and incentives are recognized as a reduction of sales . compensated absences . in the fourth quarter of 2001 , the company changed its vacation policy for certain employees so that vacation pay is earned ratably throughout the year and must be used by year-end . the accrual for compensated absences was reduced by $ 1.6 million in 2001 to eliminate vacation pay no longer required to be accrued under the current policy . advertising . advertising costs are charged to operations as incurred and amounted to $ 18.4 , $ 16.2 and $ 8.8 million during 2003 , 2002 and 2001 respectively . research and development . research and development costs are charged to operations as incurred and amounted to $ 34.6 , $ 30.4 and $ 27.6 million during 2003 , 2002 and 2001 , respectively . product warranty . the company 2019s products carry warranties that generally range from one to six years and are based on terms that are generally accepted in the market place . the company records a liability for the expected cost of warranty-related claims at the time of sale . the allocation of our warranty liability between current and long-term is based on expected warranty claims to be paid in the next year as determined by historical product failure rates . 1 . organization and significant accounting policies ( continued ) the following table presents the company 2019s product warranty liability activity in 2003 and 2002 : note to table : environmental costs . the company accrues for losses associated with environmental obligations when such losses are probable and reasonably estimable . costs of estimated future expenditures are not discounted to their present value . recoveries of environmental costs from other parties are recorded as assets when their receipt is considered probable . the accruals are adjusted as facts and circumstances change . stock based compensation . the company has one stock-based employee compensation plan ( see note 11 ) . sfas no . 123 , 201caccounting for stock-based compensation , 201d encourages , but does not require companies to record compensation cost for stock-based employee compensation plans at fair value . the company has chosen to continue applying accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d and related interpretations , in accounting for its stock option plans . accordingly , because the number of shares is fixed and the exercise price of the stock options equals the market price of the underlying stock on the date of grant , no compensation expense has been recognized . had compensation cost been determined based upon the fair value at the grant date for awards under the plans based on the provisions of sfas no . 123 , the company 2019s pro forma earnings and earnings per share would have been as follows: . <table class='wikitable'><tr><td>1</td><td>years ended december 31 ( dollars in millions )</td><td>2003</td><td>2002</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 63.2</td><td>$ 69.6</td></tr><tr><td>3</td><td>expense</td><td>29.1</td><td>29.9</td></tr><tr><td>4</td><td>claims settled</td><td>-30.2 ( 30.2 )</td><td>-29.1 ( 29.1 )</td></tr><tr><td>5</td><td>customer warranty waiver ( 1 )</td><td>--</td><td>-7.2 ( 7.2 )</td></tr><tr><td>6</td><td>balance at end of year</td><td>$ 62.1</td><td>$ 63.2</td></tr></table> ( 1 ) in exchange for other concessions , the customer has agreed to accept responsibility for units they have purchased from the company which become defective . the amount of the warranty reserve applicable to the estimated number of units previously sold to this customer that may become defective has been reclassified from the product warranty liability to a deferred revenue account. . Conversations: Question: what were research and developments costs in 2002? Answer:

30.4

convfinqa8736

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: contracts and customer purchase orders are generally used to determine the existence of an arrangement . shipping documents are used to verify delivery . the company assesses whether the selling price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment . the company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analysis , as well as the customer 2019s payment history . accruals for customer returns for defective product are based on historical experience with similar types of sales . accruals for rebates and incentives are based on pricing agreements and are generally tied to sales volume . changes in such accruals may be required if future returns differ from historical experience or if actual sales volume differ from estimated sales volume . rebates and incentives are recognized as a reduction of sales . compensated absences . in the fourth quarter of 2001 , the company changed its vacation policy for certain employees so that vacation pay is earned ratably throughout the year and must be used by year-end . the accrual for compensated absences was reduced by $ 1.6 million in 2001 to eliminate vacation pay no longer required to be accrued under the current policy . advertising . advertising costs are charged to operations as incurred and amounted to $ 18.4 , $ 16.2 and $ 8.8 million during 2003 , 2002 and 2001 respectively . research and development . research and development costs are charged to operations as incurred and amounted to $ 34.6 , $ 30.4 and $ 27.6 million during 2003 , 2002 and 2001 , respectively . product warranty . the company 2019s products carry warranties that generally range from one to six years and are based on terms that are generally accepted in the market place . the company records a liability for the expected cost of warranty-related claims at the time of sale . the allocation of our warranty liability between current and long-term is based on expected warranty claims to be paid in the next year as determined by historical product failure rates . 1 . organization and significant accounting policies ( continued ) the following table presents the company 2019s product warranty liability activity in 2003 and 2002 : note to table : environmental costs . the company accrues for losses associated with environmental obligations when such losses are probable and reasonably estimable . costs of estimated future expenditures are not discounted to their present value . recoveries of environmental costs from other parties are recorded as assets when their receipt is considered probable . the accruals are adjusted as facts and circumstances change . stock based compensation . the company has one stock-based employee compensation plan ( see note 11 ) . sfas no . 123 , 201caccounting for stock-based compensation , 201d encourages , but does not require companies to record compensation cost for stock-based employee compensation plans at fair value . the company has chosen to continue applying accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d and related interpretations , in accounting for its stock option plans . accordingly , because the number of shares is fixed and the exercise price of the stock options equals the market price of the underlying stock on the date of grant , no compensation expense has been recognized . had compensation cost been determined based upon the fair value at the grant date for awards under the plans based on the provisions of sfas no . 123 , the company 2019s pro forma earnings and earnings per share would have been as follows: . <table class='wikitable'><tr><td>1</td><td>years ended december 31 ( dollars in millions )</td><td>2003</td><td>2002</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 63.2</td><td>$ 69.6</td></tr><tr><td>3</td><td>expense</td><td>29.1</td><td>29.9</td></tr><tr><td>4</td><td>claims settled</td><td>-30.2 ( 30.2 )</td><td>-29.1 ( 29.1 )</td></tr><tr><td>5</td><td>customer warranty waiver ( 1 )</td><td>--</td><td>-7.2 ( 7.2 )</td></tr><tr><td>6</td><td>balance at end of year</td><td>$ 62.1</td><td>$ 63.2</td></tr></table> ( 1 ) in exchange for other concessions , the customer has agreed to accept responsibility for units they have purchased from the company which become defective . the amount of the warranty reserve applicable to the estimated number of units previously sold to this customer that may become defective has been reclassified from the product warranty liability to a deferred revenue account. . Conversations: q0: what were research and developments costs in 2002? 30.4 Question: what were they in 2001? Answer:

27.6

convfinqa8737

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: contracts and customer purchase orders are generally used to determine the existence of an arrangement . shipping documents are used to verify delivery . the company assesses whether the selling price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment . the company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analysis , as well as the customer 2019s payment history . accruals for customer returns for defective product are based on historical experience with similar types of sales . accruals for rebates and incentives are based on pricing agreements and are generally tied to sales volume . changes in such accruals may be required if future returns differ from historical experience or if actual sales volume differ from estimated sales volume . rebates and incentives are recognized as a reduction of sales . compensated absences . in the fourth quarter of 2001 , the company changed its vacation policy for certain employees so that vacation pay is earned ratably throughout the year and must be used by year-end . the accrual for compensated absences was reduced by $ 1.6 million in 2001 to eliminate vacation pay no longer required to be accrued under the current policy . advertising . advertising costs are charged to operations as incurred and amounted to $ 18.4 , $ 16.2 and $ 8.8 million during 2003 , 2002 and 2001 respectively . research and development . research and development costs are charged to operations as incurred and amounted to $ 34.6 , $ 30.4 and $ 27.6 million during 2003 , 2002 and 2001 , respectively . product warranty . the company 2019s products carry warranties that generally range from one to six years and are based on terms that are generally accepted in the market place . the company records a liability for the expected cost of warranty-related claims at the time of sale . the allocation of our warranty liability between current and long-term is based on expected warranty claims to be paid in the next year as determined by historical product failure rates . 1 . organization and significant accounting policies ( continued ) the following table presents the company 2019s product warranty liability activity in 2003 and 2002 : note to table : environmental costs . the company accrues for losses associated with environmental obligations when such losses are probable and reasonably estimable . costs of estimated future expenditures are not discounted to their present value . recoveries of environmental costs from other parties are recorded as assets when their receipt is considered probable . the accruals are adjusted as facts and circumstances change . stock based compensation . the company has one stock-based employee compensation plan ( see note 11 ) . sfas no . 123 , 201caccounting for stock-based compensation , 201d encourages , but does not require companies to record compensation cost for stock-based employee compensation plans at fair value . the company has chosen to continue applying accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d and related interpretations , in accounting for its stock option plans . accordingly , because the number of shares is fixed and the exercise price of the stock options equals the market price of the underlying stock on the date of grant , no compensation expense has been recognized . had compensation cost been determined based upon the fair value at the grant date for awards under the plans based on the provisions of sfas no . 123 , the company 2019s pro forma earnings and earnings per share would have been as follows: . <table class='wikitable'><tr><td>1</td><td>years ended december 31 ( dollars in millions )</td><td>2003</td><td>2002</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 63.2</td><td>$ 69.6</td></tr><tr><td>3</td><td>expense</td><td>29.1</td><td>29.9</td></tr><tr><td>4</td><td>claims settled</td><td>-30.2 ( 30.2 )</td><td>-29.1 ( 29.1 )</td></tr><tr><td>5</td><td>customer warranty waiver ( 1 )</td><td>--</td><td>-7.2 ( 7.2 )</td></tr><tr><td>6</td><td>balance at end of year</td><td>$ 62.1</td><td>$ 63.2</td></tr></table> ( 1 ) in exchange for other concessions , the customer has agreed to accept responsibility for units they have purchased from the company which become defective . the amount of the warranty reserve applicable to the estimated number of units previously sold to this customer that may become defective has been reclassified from the product warranty liability to a deferred revenue account. . Conversations: q0: what were research and developments costs in 2002? 30.4 q1: what were they in 2001? 27.6 Question: what is the net change? Answer:

2.8

convfinqa8738

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: contracts and customer purchase orders are generally used to determine the existence of an arrangement . shipping documents are used to verify delivery . the company assesses whether the selling price is fixed or determinable based upon the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment . the company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analysis , as well as the customer 2019s payment history . accruals for customer returns for defective product are based on historical experience with similar types of sales . accruals for rebates and incentives are based on pricing agreements and are generally tied to sales volume . changes in such accruals may be required if future returns differ from historical experience or if actual sales volume differ from estimated sales volume . rebates and incentives are recognized as a reduction of sales . compensated absences . in the fourth quarter of 2001 , the company changed its vacation policy for certain employees so that vacation pay is earned ratably throughout the year and must be used by year-end . the accrual for compensated absences was reduced by $ 1.6 million in 2001 to eliminate vacation pay no longer required to be accrued under the current policy . advertising . advertising costs are charged to operations as incurred and amounted to $ 18.4 , $ 16.2 and $ 8.8 million during 2003 , 2002 and 2001 respectively . research and development . research and development costs are charged to operations as incurred and amounted to $ 34.6 , $ 30.4 and $ 27.6 million during 2003 , 2002 and 2001 , respectively . product warranty . the company 2019s products carry warranties that generally range from one to six years and are based on terms that are generally accepted in the market place . the company records a liability for the expected cost of warranty-related claims at the time of sale . the allocation of our warranty liability between current and long-term is based on expected warranty claims to be paid in the next year as determined by historical product failure rates . 1 . organization and significant accounting policies ( continued ) the following table presents the company 2019s product warranty liability activity in 2003 and 2002 : note to table : environmental costs . the company accrues for losses associated with environmental obligations when such losses are probable and reasonably estimable . costs of estimated future expenditures are not discounted to their present value . recoveries of environmental costs from other parties are recorded as assets when their receipt is considered probable . the accruals are adjusted as facts and circumstances change . stock based compensation . the company has one stock-based employee compensation plan ( see note 11 ) . sfas no . 123 , 201caccounting for stock-based compensation , 201d encourages , but does not require companies to record compensation cost for stock-based employee compensation plans at fair value . the company has chosen to continue applying accounting principles board opinion no . 25 , 201caccounting for stock issued to employees , 201d and related interpretations , in accounting for its stock option plans . accordingly , because the number of shares is fixed and the exercise price of the stock options equals the market price of the underlying stock on the date of grant , no compensation expense has been recognized . had compensation cost been determined based upon the fair value at the grant date for awards under the plans based on the provisions of sfas no . 123 , the company 2019s pro forma earnings and earnings per share would have been as follows: . <table class='wikitable'><tr><td>1</td><td>years ended december 31 ( dollars in millions )</td><td>2003</td><td>2002</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 63.2</td><td>$ 69.6</td></tr><tr><td>3</td><td>expense</td><td>29.1</td><td>29.9</td></tr><tr><td>4</td><td>claims settled</td><td>-30.2 ( 30.2 )</td><td>-29.1 ( 29.1 )</td></tr><tr><td>5</td><td>customer warranty waiver ( 1 )</td><td>--</td><td>-7.2 ( 7.2 )</td></tr><tr><td>6</td><td>balance at end of year</td><td>$ 62.1</td><td>$ 63.2</td></tr></table> ( 1 ) in exchange for other concessions , the customer has agreed to accept responsibility for units they have purchased from the company which become defective . the amount of the warranty reserve applicable to the estimated number of units previously sold to this customer that may become defective has been reclassified from the product warranty liability to a deferred revenue account. . Conversations: q0: what were research and developments costs in 2002? 30.4 q1: what were they in 2001? 27.6 q2: what is the net change? 2.8 Question: what is the percent change? Answer:

0.10145

convfinqa8739

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: entergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. . <table class='wikitable'><tr><td>1</td><td></td><td>( in millions )</td></tr><tr><td>2</td><td>2002 net revenue</td><td>$ 1095.9</td></tr><tr><td>3</td><td>march 2002 settlement agreement</td><td>-154.0 ( 154.0 )</td></tr><tr><td>4</td><td>volume/weather</td><td>-7.7 ( 7.7 )</td></tr><tr><td>5</td><td>asset retirement obligation</td><td>30.1</td></tr><tr><td>6</td><td>net wholesale revenue</td><td>16.6</td></tr><tr><td>7</td><td>deferred fuel cost revisions</td><td>10.2</td></tr><tr><td>8</td><td>other</td><td>7.6</td></tr><tr><td>9</td><td>2003 net revenue</td><td>$ 998.7</td></tr></table> the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. . Conversations: Question: what was the difference in net revenue between 2002 and 2003? Answer:

97.2

convfinqa8740

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: entergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. . <table class='wikitable'><tr><td>1</td><td></td><td>( in millions )</td></tr><tr><td>2</td><td>2002 net revenue</td><td>$ 1095.9</td></tr><tr><td>3</td><td>march 2002 settlement agreement</td><td>-154.0 ( 154.0 )</td></tr><tr><td>4</td><td>volume/weather</td><td>-7.7 ( 7.7 )</td></tr><tr><td>5</td><td>asset retirement obligation</td><td>30.1</td></tr><tr><td>6</td><td>net wholesale revenue</td><td>16.6</td></tr><tr><td>7</td><td>deferred fuel cost revisions</td><td>10.2</td></tr><tr><td>8</td><td>other</td><td>7.6</td></tr><tr><td>9</td><td>2003 net revenue</td><td>$ 998.7</td></tr></table> the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. . Conversations: q0: what was the difference in net revenue between 2002 and 2003? 97.2 Question: and the value for 2003 specifically? Answer:

998.7

convfinqa8741

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: entergy arkansas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to increased recovery of deferred fuel and purchased power costs primarily due to an increase in april 2004 in the energy cost recovery rider and the true-ups to the 2003 and 2002 energy cost recovery rider filings . other regulatory credits decreased primarily due to the over-recovery of grand gulf costs due to an increase in the grand gulf rider effective january 2004 . 2003 compared to 2002 net revenue , which is entergy arkansas' measure of gross margin , consists of operating revenues net of : 1 ) fuel , fuel-related , and purchased power expenses and 2 ) other regulatory credits . following is an analysis of the change in net revenue comparing 2003 to 2002. . <table class='wikitable'><tr><td>1</td><td></td><td>( in millions )</td></tr><tr><td>2</td><td>2002 net revenue</td><td>$ 1095.9</td></tr><tr><td>3</td><td>march 2002 settlement agreement</td><td>-154.0 ( 154.0 )</td></tr><tr><td>4</td><td>volume/weather</td><td>-7.7 ( 7.7 )</td></tr><tr><td>5</td><td>asset retirement obligation</td><td>30.1</td></tr><tr><td>6</td><td>net wholesale revenue</td><td>16.6</td></tr><tr><td>7</td><td>deferred fuel cost revisions</td><td>10.2</td></tr><tr><td>8</td><td>other</td><td>7.6</td></tr><tr><td>9</td><td>2003 net revenue</td><td>$ 998.7</td></tr></table> the march 2002 settlement agreement resolved a request for recovery of ice storm costs incurred in december 2000 with an offset of those costs for funds contributed to pay for future stranded costs . a 1997 settlement provided for the collection of earnings in excess of an 11% ( 11 % ) return on equity in a transition cost account ( tca ) to offset stranded costs if retail open access were implemented . in mid- and late december 2000 , two separate ice storms left 226000 and 212500 entergy arkansas customers , respectively , without electric power in its service area . entergy arkansas filed a proposal to recover costs plus carrying charges associated with power restoration caused by the ice storms . entergy arkansas' final storm damage cost determination reflected costs of approximately $ 195 million . the apsc approved a settlement agreement submitted in march 2002 by entergy arkansas , the apsc staff , and the arkansas attorney general . in the march 2002 settlement , the parties agreed that $ 153 million of the ice storm costs would be classified as incremental ice storm expenses that can be offset against the tca on a rate class basis , and any excess of ice storm costs over the amount available in the tca would be deferred and amortized over 30 years , although such excess costs were not allowed to be included as a separate component of rate base . the allocated ice storm expenses exceeded the available tca funds by $ 15.8 million which was recorded as a regulatory asset in june 2002 . in accordance with the settlement agreement and following the apsc's approval of the 2001 earnings review related to the tca , entergy arkansas filed to return $ 18.1 million of the tca to certain large general service class customers that paid more into the tca than their allocation of storm costs . the apsc approved the return of funds to the large general service customer class in the form of refund checks in august 2002 . as part of the implementation of the march 2002 settlement agreement provisions , the tca procedure ceased with the 2001 earnings evaluation . of the remaining ice storm costs , $ 32.2 million was addressed through established ratemaking procedures , including $ 22.2 million classified as capital additions , while $ 3.8 million of the ice storm costs was not recovered through rates . the effect on net income of the march 2002 settlement agreement and 2001 earnings review was a $ 2.2 million increase in 2003 , because the decrease in net revenue was offset by the decrease in operation and maintenance expenses discussed below. . Conversations: q0: what was the difference in net revenue between 2002 and 2003? 97.2 q1: and the value for 2003 specifically? 998.7 Question: so what was the percentage change? Answer:

0.09733

convfinqa8742

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: depreciation and amortization included in operating segment profit for the years ended december 31 , 2008 , 2007 and 2006 was as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td></td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>americas</td><td>$ 78.5</td><td>$ 66.9</td><td>$ 56.7</td></tr><tr><td>3</td><td>europe</td><td>57.0</td><td>60.7</td><td>46.5</td></tr><tr><td>4</td><td>asia pacific</td><td>25.6</td><td>22.7</td><td>18.7</td></tr><tr><td>5</td><td>global operations and corporate functions</td><td>114.0</td><td>79.7</td><td>75.5</td></tr><tr><td>6</td><td>total</td><td>$ 275.1</td><td>$ 230.0</td><td>$ 197.4</td></tr></table> 15 . leases future minimum rental commitments under non- cancelable operating leases in effect as of december 31 , 2008 were $ 38.2 million for 2009 , $ 30.1 million for 2010 , $ 20.9 million for 2011 , $ 15.9 million for 2012 , $ 14.3 million for 2013 and $ 29.9 million thereafter . total rent expense for the years ended december 31 , 2008 , 2007 and 2006 aggregated $ 41.4 million , $ 37.1 million and $ 31.1 million , respectively . 16 . commitments and contingencies intellectual property and product liability-related litigation in july 2008 , we temporarily suspended marketing and distribution of the durom bb acetabular component ( durom cup ) in the u.s . to allow us to update product labeling to provide more detailed surgical technique instructions to surgeons and implement a surgical training program in the u.s . following our announcement , product liability lawsuits and other claims have been asserted against us , some of which we have settled . there are a number of claims still pending and we expect additional claims will be submitted . we recorded a provision of $ 47.5 million in the third quarter of 2008 , representing management 2019s estimate of these durom cup-related claims . we increased that provision by $ 21.5 million in the fourth quarter of 2008 . the provision is limited to revisions within two years of an original surgery that occurred prior to july 2008 . these parameters are consistent with our data which indicates that cup loosenings associated with surgical technique are most likely to occur within that time period . any claims received outside of these defined parameters will be managed in the normal course and reflected in our standard product liability accruals . on february 15 , 2005 , howmedica osteonics corp . filed an action against us and an unrelated party in the united states district court for the district of new jersey alleging infringement of u.s . patent nos . 6174934 ; 6372814 ; 6664308 ; and 6818020 . on june 13 , 2007 , the court granted our motion for summary judgment on the invalidity of the asserted claims of u.s . patent nos . 6174934 ; 6372814 ; and 6664308 by ruling that all of the asserted claims are invalid for indefiniteness . on august 19 , 2008 , the court granted our motion for summary judgment of non- infringement of certain claims of u.s . patent no . 6818020 , reducing the number of claims at issue in the suit to five . we continue to believe that our defenses against infringement of the remaining claims are valid and meritorious , and we intend to defend this lawsuit vigorously . in addition to certain claims related to the durom cup discussed above , we are also subject to product liability and other claims and lawsuits arising in the ordinary course of business , for which we maintain insurance , subject to self- insured retention limits . we establish accruals for product liability and other claims in conjunction with outside counsel based on current information and historical settlement information for open claims , related fees and claims incurred but not reported . while it is not possible to predict with certainty the outcome of these cases , it is the opinion of management that , upon ultimate resolution , liabilities from these cases in excess of those recorded , if any , will not have a material adverse effect on our consolidated financial position , results of operations or cash flows . government investigations in march 2005 , the u.s . department of justice through the u.s . attorney 2019s office in newark , new jersey commenced an investigation of us and four other orthopaedic companies pertaining to consulting contracts , professional service agreements and other agreements by which remuneration is provided to orthopaedic surgeons . on september 27 , 2007 , we reached a settlement with the government to resolve all claims related to this investigation . as part of the settlement , we entered into a settlement agreement with the u.s . through the u.s . department of justice and the office of inspector general of the department of health and human services ( the 201coig-hhs 201d ) . in addition , we entered into a deferred prosecution agreement ( the 201cdpa 201d ) with the u.s . attorney 2019s office for the district of new jersey ( the 201cu.s . attorney 201d ) and a corporate integrity agreement ( the 201ccia 201d ) with the oig- hhs . we did not admit any wrongdoing , plead guilty to any criminal charges or pay any criminal fines as part of the settlement . we settled all civil and administrative claims related to the federal investigation by making a settlement payment to the u.s . government of $ 169.5 million . under the terms of the dpa , the u.s . attorney filed a criminal complaint in the u.s . district court for the district of new jersey charging us with conspiracy to commit violations of the anti-kickback statute ( 42 u.s.c . a7 1320a-7b ) during the years 2002 through 2006 . the court deferred prosecution of the criminal complaint during the 18-month term of the dpa . the u.s . attorney will seek dismissal of the criminal complaint after the 18-month period if we comply with the provisions of the dpa . the dpa provides for oversight by a federally-appointed monitor . under the cia , which has a term of five years , we agreed , among other provisions , to continue the operation of our enhanced corporate compliance program , designed to promote compliance with federal healthcare program z i m m e r h o l d i n g s , i n c . 2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 060000000 ***%%pcmsg|60 |00012|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| . Conversations: Question: what is the net change in total rent expense from 2007 to 2008? Answer:

4.3

convfinqa8743

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: depreciation and amortization included in operating segment profit for the years ended december 31 , 2008 , 2007 and 2006 was as follows ( in millions ) : . <table class='wikitable'><tr><td>1</td><td></td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>americas</td><td>$ 78.5</td><td>$ 66.9</td><td>$ 56.7</td></tr><tr><td>3</td><td>europe</td><td>57.0</td><td>60.7</td><td>46.5</td></tr><tr><td>4</td><td>asia pacific</td><td>25.6</td><td>22.7</td><td>18.7</td></tr><tr><td>5</td><td>global operations and corporate functions</td><td>114.0</td><td>79.7</td><td>75.5</td></tr><tr><td>6</td><td>total</td><td>$ 275.1</td><td>$ 230.0</td><td>$ 197.4</td></tr></table> 15 . leases future minimum rental commitments under non- cancelable operating leases in effect as of december 31 , 2008 were $ 38.2 million for 2009 , $ 30.1 million for 2010 , $ 20.9 million for 2011 , $ 15.9 million for 2012 , $ 14.3 million for 2013 and $ 29.9 million thereafter . total rent expense for the years ended december 31 , 2008 , 2007 and 2006 aggregated $ 41.4 million , $ 37.1 million and $ 31.1 million , respectively . 16 . commitments and contingencies intellectual property and product liability-related litigation in july 2008 , we temporarily suspended marketing and distribution of the durom bb acetabular component ( durom cup ) in the u.s . to allow us to update product labeling to provide more detailed surgical technique instructions to surgeons and implement a surgical training program in the u.s . following our announcement , product liability lawsuits and other claims have been asserted against us , some of which we have settled . there are a number of claims still pending and we expect additional claims will be submitted . we recorded a provision of $ 47.5 million in the third quarter of 2008 , representing management 2019s estimate of these durom cup-related claims . we increased that provision by $ 21.5 million in the fourth quarter of 2008 . the provision is limited to revisions within two years of an original surgery that occurred prior to july 2008 . these parameters are consistent with our data which indicates that cup loosenings associated with surgical technique are most likely to occur within that time period . any claims received outside of these defined parameters will be managed in the normal course and reflected in our standard product liability accruals . on february 15 , 2005 , howmedica osteonics corp . filed an action against us and an unrelated party in the united states district court for the district of new jersey alleging infringement of u.s . patent nos . 6174934 ; 6372814 ; 6664308 ; and 6818020 . on june 13 , 2007 , the court granted our motion for summary judgment on the invalidity of the asserted claims of u.s . patent nos . 6174934 ; 6372814 ; and 6664308 by ruling that all of the asserted claims are invalid for indefiniteness . on august 19 , 2008 , the court granted our motion for summary judgment of non- infringement of certain claims of u.s . patent no . 6818020 , reducing the number of claims at issue in the suit to five . we continue to believe that our defenses against infringement of the remaining claims are valid and meritorious , and we intend to defend this lawsuit vigorously . in addition to certain claims related to the durom cup discussed above , we are also subject to product liability and other claims and lawsuits arising in the ordinary course of business , for which we maintain insurance , subject to self- insured retention limits . we establish accruals for product liability and other claims in conjunction with outside counsel based on current information and historical settlement information for open claims , related fees and claims incurred but not reported . while it is not possible to predict with certainty the outcome of these cases , it is the opinion of management that , upon ultimate resolution , liabilities from these cases in excess of those recorded , if any , will not have a material adverse effect on our consolidated financial position , results of operations or cash flows . government investigations in march 2005 , the u.s . department of justice through the u.s . attorney 2019s office in newark , new jersey commenced an investigation of us and four other orthopaedic companies pertaining to consulting contracts , professional service agreements and other agreements by which remuneration is provided to orthopaedic surgeons . on september 27 , 2007 , we reached a settlement with the government to resolve all claims related to this investigation . as part of the settlement , we entered into a settlement agreement with the u.s . through the u.s . department of justice and the office of inspector general of the department of health and human services ( the 201coig-hhs 201d ) . in addition , we entered into a deferred prosecution agreement ( the 201cdpa 201d ) with the u.s . attorney 2019s office for the district of new jersey ( the 201cu.s . attorney 201d ) and a corporate integrity agreement ( the 201ccia 201d ) with the oig- hhs . we did not admit any wrongdoing , plead guilty to any criminal charges or pay any criminal fines as part of the settlement . we settled all civil and administrative claims related to the federal investigation by making a settlement payment to the u.s . government of $ 169.5 million . under the terms of the dpa , the u.s . attorney filed a criminal complaint in the u.s . district court for the district of new jersey charging us with conspiracy to commit violations of the anti-kickback statute ( 42 u.s.c . a7 1320a-7b ) during the years 2002 through 2006 . the court deferred prosecution of the criminal complaint during the 18-month term of the dpa . the u.s . attorney will seek dismissal of the criminal complaint after the 18-month period if we comply with the provisions of the dpa . the dpa provides for oversight by a federally-appointed monitor . under the cia , which has a term of five years , we agreed , among other provisions , to continue the operation of our enhanced corporate compliance program , designed to promote compliance with federal healthcare program z i m m e r h o l d i n g s , i n c . 2 0 0 8 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) %%transmsg*** transmitting job : c48761 pcn : 060000000 ***%%pcmsg|60 |00012|yes|no|02/24/2009 06:10|0|0|page is valid , no graphics -- color : d| . Conversations: q0: what is the net change in total rent expense from 2007 to 2008? 4.3 Question: what percentage change does this represent? Answer:

0.1159

convfinqa8744

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: page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2005</td><td>2004</td><td>2003</td><td>2002</td><td>2001</td></tr><tr><td>2</td><td>net earnings</td><td>$ 1825</td><td>$ 1266</td><td>$ 1053</td><td>$ 500</td><td>$ -1046 ( 1046 )</td></tr><tr><td>3</td><td>interest expense ( multiplied by 65% ( 65 % ) ) 1</td><td>241</td><td>276</td><td>317</td><td>378</td><td>455</td></tr><tr><td>4</td><td>return</td><td>$ 2066</td><td>$ 1542</td><td>$ 1370</td><td>$ 878</td><td>$ -591 ( 591 )</td></tr><tr><td>5</td><td>average debt2 5</td><td>$ 5077</td><td>$ 5932</td><td>$ 6612</td><td>$ 7491</td><td>$ 8782</td></tr><tr><td>6</td><td>average equity3 5</td><td>7590</td><td>7015</td><td>6170</td><td>6853</td><td>7221</td></tr><tr><td>7</td><td>average minimum pension liability3 4 5</td><td>1545</td><td>1296</td><td>1504</td><td>341</td><td>6</td></tr><tr><td>8</td><td>average invested capital</td><td>$ 14212</td><td>$ 14243</td><td>$ 14286</td><td>$ 14685</td><td>$ 16009</td></tr><tr><td>9</td><td>return on invested capital</td><td>14.5% ( 14.5 % )</td><td>10.8% ( 10.8 % )</td><td>9.6% ( 9.6 % )</td><td>6.0% ( 6.0 % )</td><td>( 3.7 ) % ( % )</td></tr></table> 1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation . Conversations: Question: what is the net earnings in 2005? Answer:

1825.0

convfinqa8745

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: page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2005</td><td>2004</td><td>2003</td><td>2002</td><td>2001</td></tr><tr><td>2</td><td>net earnings</td><td>$ 1825</td><td>$ 1266</td><td>$ 1053</td><td>$ 500</td><td>$ -1046 ( 1046 )</td></tr><tr><td>3</td><td>interest expense ( multiplied by 65% ( 65 % ) ) 1</td><td>241</td><td>276</td><td>317</td><td>378</td><td>455</td></tr><tr><td>4</td><td>return</td><td>$ 2066</td><td>$ 1542</td><td>$ 1370</td><td>$ 878</td><td>$ -591 ( 591 )</td></tr><tr><td>5</td><td>average debt2 5</td><td>$ 5077</td><td>$ 5932</td><td>$ 6612</td><td>$ 7491</td><td>$ 8782</td></tr><tr><td>6</td><td>average equity3 5</td><td>7590</td><td>7015</td><td>6170</td><td>6853</td><td>7221</td></tr><tr><td>7</td><td>average minimum pension liability3 4 5</td><td>1545</td><td>1296</td><td>1504</td><td>341</td><td>6</td></tr><tr><td>8</td><td>average invested capital</td><td>$ 14212</td><td>$ 14243</td><td>$ 14286</td><td>$ 14685</td><td>$ 16009</td></tr><tr><td>9</td><td>return on invested capital</td><td>14.5% ( 14.5 % )</td><td>10.8% ( 10.8 % )</td><td>9.6% ( 9.6 % )</td><td>6.0% ( 6.0 % )</td><td>( 3.7 ) % ( % )</td></tr></table> 1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation . Conversations: q0: what is the net earnings in 2005? 1825.0 Question: what about in 2004? Answer:

1266.0

convfinqa8746

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: page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2005</td><td>2004</td><td>2003</td><td>2002</td><td>2001</td></tr><tr><td>2</td><td>net earnings</td><td>$ 1825</td><td>$ 1266</td><td>$ 1053</td><td>$ 500</td><td>$ -1046 ( 1046 )</td></tr><tr><td>3</td><td>interest expense ( multiplied by 65% ( 65 % ) ) 1</td><td>241</td><td>276</td><td>317</td><td>378</td><td>455</td></tr><tr><td>4</td><td>return</td><td>$ 2066</td><td>$ 1542</td><td>$ 1370</td><td>$ 878</td><td>$ -591 ( 591 )</td></tr><tr><td>5</td><td>average debt2 5</td><td>$ 5077</td><td>$ 5932</td><td>$ 6612</td><td>$ 7491</td><td>$ 8782</td></tr><tr><td>6</td><td>average equity3 5</td><td>7590</td><td>7015</td><td>6170</td><td>6853</td><td>7221</td></tr><tr><td>7</td><td>average minimum pension liability3 4 5</td><td>1545</td><td>1296</td><td>1504</td><td>341</td><td>6</td></tr><tr><td>8</td><td>average invested capital</td><td>$ 14212</td><td>$ 14243</td><td>$ 14286</td><td>$ 14685</td><td>$ 16009</td></tr><tr><td>9</td><td>return on invested capital</td><td>14.5% ( 14.5 % )</td><td>10.8% ( 10.8 % )</td><td>9.6% ( 9.6 % )</td><td>6.0% ( 6.0 % )</td><td>( 3.7 ) % ( % )</td></tr></table> 1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation . Conversations: q0: what is the net earnings in 2005? 1825.0 q1: what about in 2004? 1266.0 Question: what is the increase in net earnings? Answer:

559.0

convfinqa8747

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: page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2005</td><td>2004</td><td>2003</td><td>2002</td><td>2001</td></tr><tr><td>2</td><td>net earnings</td><td>$ 1825</td><td>$ 1266</td><td>$ 1053</td><td>$ 500</td><td>$ -1046 ( 1046 )</td></tr><tr><td>3</td><td>interest expense ( multiplied by 65% ( 65 % ) ) 1</td><td>241</td><td>276</td><td>317</td><td>378</td><td>455</td></tr><tr><td>4</td><td>return</td><td>$ 2066</td><td>$ 1542</td><td>$ 1370</td><td>$ 878</td><td>$ -591 ( 591 )</td></tr><tr><td>5</td><td>average debt2 5</td><td>$ 5077</td><td>$ 5932</td><td>$ 6612</td><td>$ 7491</td><td>$ 8782</td></tr><tr><td>6</td><td>average equity3 5</td><td>7590</td><td>7015</td><td>6170</td><td>6853</td><td>7221</td></tr><tr><td>7</td><td>average minimum pension liability3 4 5</td><td>1545</td><td>1296</td><td>1504</td><td>341</td><td>6</td></tr><tr><td>8</td><td>average invested capital</td><td>$ 14212</td><td>$ 14243</td><td>$ 14286</td><td>$ 14685</td><td>$ 16009</td></tr><tr><td>9</td><td>return on invested capital</td><td>14.5% ( 14.5 % )</td><td>10.8% ( 10.8 % )</td><td>9.6% ( 9.6 % )</td><td>6.0% ( 6.0 % )</td><td>( 3.7 ) % ( % )</td></tr></table> 1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation . Conversations: q0: what is the net earnings in 2005? 1825.0 q1: what about in 2004? 1266.0 q2: what is the increase in net earnings? 559.0 Question: what is the net earnings in 2006? Answer:

1266.0

convfinqa8748

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: page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) . ( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) . also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) . these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) . ( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) . ( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) . in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill . ( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) . also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) . ( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability . the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance . further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations . the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans . roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner . roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance . the following calculations of roic reflect the revision to the calculation discussed above for all periods presented . ( in millions ) 2005 2004 2003 2002 2001 . <table class='wikitable'><tr><td>1</td><td>( in millions )</td><td>2005</td><td>2004</td><td>2003</td><td>2002</td><td>2001</td></tr><tr><td>2</td><td>net earnings</td><td>$ 1825</td><td>$ 1266</td><td>$ 1053</td><td>$ 500</td><td>$ -1046 ( 1046 )</td></tr><tr><td>3</td><td>interest expense ( multiplied by 65% ( 65 % ) ) 1</td><td>241</td><td>276</td><td>317</td><td>378</td><td>455</td></tr><tr><td>4</td><td>return</td><td>$ 2066</td><td>$ 1542</td><td>$ 1370</td><td>$ 878</td><td>$ -591 ( 591 )</td></tr><tr><td>5</td><td>average debt2 5</td><td>$ 5077</td><td>$ 5932</td><td>$ 6612</td><td>$ 7491</td><td>$ 8782</td></tr><tr><td>6</td><td>average equity3 5</td><td>7590</td><td>7015</td><td>6170</td><td>6853</td><td>7221</td></tr><tr><td>7</td><td>average minimum pension liability3 4 5</td><td>1545</td><td>1296</td><td>1504</td><td>341</td><td>6</td></tr><tr><td>8</td><td>average invested capital</td><td>$ 14212</td><td>$ 14243</td><td>$ 14286</td><td>$ 14685</td><td>$ 16009</td></tr><tr><td>9</td><td>return on invested capital</td><td>14.5% ( 14.5 % )</td><td>10.8% ( 10.8 % )</td><td>9.6% ( 9.6 % )</td><td>6.0% ( 6.0 % )</td><td>( 3.7 ) % ( % )</td></tr></table> 1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) . 2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) . 3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability . 4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) . as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value . 5 yearly averages are calculated using balances at the start of the year and at the end of each quarter . lockheed martin corporation . Conversations: q0: what is the net earnings in 2005? 1825.0 q1: what about in 2004? 1266.0 q2: what is the increase in net earnings? 559.0 q3: what is the net earnings in 2006? 1266.0 Question: what percentage increase does this represent? Answer:

0.44155

convfinqa8749

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: performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end . additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited . compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period . maa presents stock compensation expense in the consolidated statements of operations in "general and administrative expenses" . effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur . the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures . total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million . this cost is expected to be recognized over the remaining weighted average period of 1.2 years . total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . information concerning grants under the stock plan is listed below . restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years . service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant . market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation . performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets . maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known . the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively . the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: . <table class='wikitable'><tr><td>1</td><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>risk free rate</td><td>0.65% ( 0.65 % ) - 1.57% ( 1.57 % )</td><td>0.49% ( 0.49 % ) - 1.27% ( 1.27 % )</td><td>0.10% ( 0.10 % ) - 1.05% ( 1.05 % )</td></tr><tr><td>3</td><td>dividend yield</td><td>3.573% ( 3.573 % )</td><td>3.634% ( 3.634 % )</td><td>3.932% ( 3.932 % )</td></tr><tr><td>4</td><td>volatility</td><td>20.43% ( 20.43 % ) - 21.85% ( 21.85 % )</td><td>18.41% ( 18.41 % ) - 19.45% ( 19.45 % )</td><td>15.41% ( 15.41 % ) - 16.04% ( 16.04 % )</td></tr><tr><td>5</td><td>requisite service period</td><td>3 years</td><td>3 years</td><td>3 years</td></tr></table> the risk free rate was based on a zero coupon risk-free rate . the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 . the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 . the dividend yield was based on the closing stock price of maa stock on the date of grant . volatility for maa was obtained by using a blend of both historical and implied volatility calculations . historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money . the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the requisite service period is based on the criteria for the separate programs according to the vesting schedule. . Conversations: Question: what was the highest volatility in the year of 2017? Answer:

0.2185

convfinqa8750

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: performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end . additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited . compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period . maa presents stock compensation expense in the consolidated statements of operations in "general and administrative expenses" . effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur . the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures . total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million . this cost is expected to be recognized over the remaining weighted average period of 1.2 years . total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . information concerning grants under the stock plan is listed below . restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years . service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant . market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation . performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets . maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known . the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively . the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: . <table class='wikitable'><tr><td>1</td><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>risk free rate</td><td>0.65% ( 0.65 % ) - 1.57% ( 1.57 % )</td><td>0.49% ( 0.49 % ) - 1.27% ( 1.27 % )</td><td>0.10% ( 0.10 % ) - 1.05% ( 1.05 % )</td></tr><tr><td>3</td><td>dividend yield</td><td>3.573% ( 3.573 % )</td><td>3.634% ( 3.634 % )</td><td>3.932% ( 3.932 % )</td></tr><tr><td>4</td><td>volatility</td><td>20.43% ( 20.43 % ) - 21.85% ( 21.85 % )</td><td>18.41% ( 18.41 % ) - 19.45% ( 19.45 % )</td><td>15.41% ( 15.41 % ) - 16.04% ( 16.04 % )</td></tr><tr><td>5</td><td>requisite service period</td><td>3 years</td><td>3 years</td><td>3 years</td></tr></table> the risk free rate was based on a zero coupon risk-free rate . the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 . the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 . the dividend yield was based on the closing stock price of maa stock on the date of grant . volatility for maa was obtained by using a blend of both historical and implied volatility calculations . historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money . the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the requisite service period is based on the criteria for the separate programs according to the vesting schedule. . Conversations: q0: what was the highest volatility in the year of 2017? 0.2185 Question: and what was the lowest? Answer:

0.2043

convfinqa8751

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: performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end . additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited . compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period . maa presents stock compensation expense in the consolidated statements of operations in "general and administrative expenses" . effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur . the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures . total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million . this cost is expected to be recognized over the remaining weighted average period of 1.2 years . total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . information concerning grants under the stock plan is listed below . restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years . service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant . market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation . performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets . maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known . the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively . the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: . <table class='wikitable'><tr><td>1</td><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>risk free rate</td><td>0.65% ( 0.65 % ) - 1.57% ( 1.57 % )</td><td>0.49% ( 0.49 % ) - 1.27% ( 1.27 % )</td><td>0.10% ( 0.10 % ) - 1.05% ( 1.05 % )</td></tr><tr><td>3</td><td>dividend yield</td><td>3.573% ( 3.573 % )</td><td>3.634% ( 3.634 % )</td><td>3.932% ( 3.932 % )</td></tr><tr><td>4</td><td>volatility</td><td>20.43% ( 20.43 % ) - 21.85% ( 21.85 % )</td><td>18.41% ( 18.41 % ) - 19.45% ( 19.45 % )</td><td>15.41% ( 15.41 % ) - 16.04% ( 16.04 % )</td></tr><tr><td>5</td><td>requisite service period</td><td>3 years</td><td>3 years</td><td>3 years</td></tr></table> the risk free rate was based on a zero coupon risk-free rate . the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 . the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 . the dividend yield was based on the closing stock price of maa stock on the date of grant . volatility for maa was obtained by using a blend of both historical and implied volatility calculations . historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money . the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the requisite service period is based on the criteria for the separate programs according to the vesting schedule. . Conversations: q0: what was the highest volatility in the year of 2017? 0.2185 q1: and what was the lowest? 0.2043 Question: what is, then, the sum of those volatilities? Answer:

0.4228

convfinqa8752

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: performance based restricted stock awards is generally recognized using the accelerated amortization method with each vesting tranche valued as a separate award , with a separate vesting date , consistent with the estimated value of the award at each period end . additionally , compensation expense is adjusted for actual forfeitures for all awards in the period that the award was forfeited . compensation expense for stock options is generally recognized on a straight-line basis over the requisite service period . maa presents stock compensation expense in the consolidated statements of operations in "general and administrative expenses" . effective january 1 , 2017 , the company adopted asu 2016-09 , improvements to employee share- based payment accounting , which allows employers to make a policy election to account for forfeitures as they occur . the company elected this option using the modified retrospective transition method , with a cumulative effect adjustment to retained earnings , and there was no material effect on the consolidated financial position or results of operations taken as a whole resulting from the reversal of previously estimated forfeitures . total compensation expense under the stock plan was approximately $ 10.8 million , $ 12.2 million and $ 6.9 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . of these amounts , total compensation expense capitalized was approximately $ 0.2 million , $ 0.7 million and $ 0.7 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . as of december 31 , 2017 , the total unrecognized compensation expense was approximately $ 14.1 million . this cost is expected to be recognized over the remaining weighted average period of 1.2 years . total cash paid for the settlement of plan shares totaled $ 4.8 million , $ 2.0 million and $ 1.0 million for the years ended december 31 , 2017 , 2016 and 2015 , respectively . information concerning grants under the stock plan is listed below . restricted stock in general , restricted stock is earned based on either a service condition , performance condition , or market condition , or a combination thereof , and generally vests ratably over a period from 1 year to 5 years . service based awards are earned when the employee remains employed over the requisite service period and are valued on the grant date based upon the market price of maa common stock on the date of grant . market based awards are earned when maa reaches a specified stock price or specified return on the stock price ( price appreciation plus dividends ) and are valued on the grant date using a monte carlo simulation . performance based awards are earned when maa reaches certain operational goals such as funds from operations , or ffo , targets and are valued based upon the market price of maa common stock on the date of grant as well as the probability of reaching the stated targets . maa remeasures the fair value of the performance based awards each balance sheet date with adjustments made on a cumulative basis until the award is settled and the final compensation is known . the weighted average grant date fair value per share of restricted stock awards granted during the years ended december 31 , 2017 , 2016 and 2015 , was $ 84.53 , $ 73.20 and $ 68.35 , respectively . the following is a summary of the key assumptions used in the valuation calculations for market based awards granted during the years ended december 31 , 2017 , 2016 and 2015: . <table class='wikitable'><tr><td>1</td><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>2</td><td>risk free rate</td><td>0.65% ( 0.65 % ) - 1.57% ( 1.57 % )</td><td>0.49% ( 0.49 % ) - 1.27% ( 1.27 % )</td><td>0.10% ( 0.10 % ) - 1.05% ( 1.05 % )</td></tr><tr><td>3</td><td>dividend yield</td><td>3.573% ( 3.573 % )</td><td>3.634% ( 3.634 % )</td><td>3.932% ( 3.932 % )</td></tr><tr><td>4</td><td>volatility</td><td>20.43% ( 20.43 % ) - 21.85% ( 21.85 % )</td><td>18.41% ( 18.41 % ) - 19.45% ( 19.45 % )</td><td>15.41% ( 15.41 % ) - 16.04% ( 16.04 % )</td></tr><tr><td>5</td><td>requisite service period</td><td>3 years</td><td>3 years</td><td>3 years</td></tr></table> the risk free rate was based on a zero coupon risk-free rate . the minimum risk free rate was based on a period of 0.25 years for the years ended december 31 , 2017 , 2016 and 2015 . the maximum risk free rate was based on a period of 3 years for the years ended december 31 , 2017 , 2016 and 2015 . the dividend yield was based on the closing stock price of maa stock on the date of grant . volatility for maa was obtained by using a blend of both historical and implied volatility calculations . historical volatility was based on the standard deviation of daily total continuous returns , and implied volatility was based on the trailing month average of daily implied volatilities interpolating between the volatilities implied by stock call option contracts that were closest to the terms shown and closest to the money . the minimum volatility was based on a period of 3 years , 2 years and 1 year for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the maximum volatility was based on a period of 1 year , 1 year and 2 years for the years ended december 31 , 2017 , 2016 and 2015 , respectively . the requisite service period is based on the criteria for the separate programs according to the vesting schedule. . Conversations: q0: what was the highest volatility in the year of 2017? 0.2185 q1: and what was the lowest? 0.2043 q2: what is, then, the sum of those volatilities? 0.4228 Question: and what is the average between them? Answer:

0.2114

convfinqa8753

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: fortron industries llc . fortron is a leading global producer of pps , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance . fortron's facility is located in wilmington , north carolina . this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha america inc . cellulose derivatives strategic ventures . our cellulose derivatives ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year . in 2014 , 2013 and 2012 , we received cash dividends of $ 115 million , $ 92 million and $ 83 million , respectively . although our ownership interest in each of our cellulose derivatives ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states of america ( "us gaap" ) . 2022 other equity method investments infraservs . we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants . our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2014 ( in percentages ) . <table class='wikitable'><tr><td>1</td><td></td><td>as of december 31 2014 ( in percentages )</td></tr><tr><td>2</td><td>infraserv gmbh & co . gendorf kg</td><td>39</td></tr><tr><td>3</td><td>infraserv gmbh & co . hoechst kg</td><td>32</td></tr><tr><td>4</td><td>infraserv gmbh & co . knapsack kg</td><td>27</td></tr></table> research and development our businesses are innovation-oriented and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications . research and development expense was $ 86 million , $ 85 million and $ 104 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively . we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives . intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing . patents may cover processes , equipment , products , intermediate products and product uses . we also seek to register trademarks as a means of protecting the brand names of our company and products . patents . in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes . however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce . confidential information . we maintain stringent information security policies and procedures wherever we do business . such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training . trademarks . aoplus ae , aoplus ae2 , aoplus ae3 , ateva ae , avicor ae , britecoat ae , celanese ae , celanex ae , celcon ae , celfx 2122 , celstran ae , celvolit ae , clarifoil ae , duroset ae , ecovae ae , factor ae , fortron ae , gur ae , hostaform ae , impet ae , mowilith ae , nutrinova ae , qorus 2122 , riteflex ae , sunett ae , tcx 2122 , thermx ae , tufcor ae , vantage ae , vantageplus 2122 , vantage ae2 , vectra ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese . the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese . fortron ae is a registered trademark of fortron industries llc. . Conversations: Question: what was the value change in research and development expense from 2012 to 2013? Answer:

-19.0

convfinqa8754

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: fortron industries llc . fortron is a leading global producer of pps , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance . fortron's facility is located in wilmington , north carolina . this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha america inc . cellulose derivatives strategic ventures . our cellulose derivatives ventures generally fund their operations using operating cash flow and pay dividends based on each ventures' performance in the preceding year . in 2014 , 2013 and 2012 , we received cash dividends of $ 115 million , $ 92 million and $ 83 million , respectively . although our ownership interest in each of our cellulose derivatives ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states of america ( "us gaap" ) . 2022 other equity method investments infraservs . we hold indirect ownership interests in several german infraserv groups that own and develop industrial parks and provide on-site general and administrative support to tenants . our ownership interest in the equity investments in infraserv affiliates are as follows : as of december 31 , 2014 ( in percentages ) . <table class='wikitable'><tr><td>1</td><td></td><td>as of december 31 2014 ( in percentages )</td></tr><tr><td>2</td><td>infraserv gmbh & co . gendorf kg</td><td>39</td></tr><tr><td>3</td><td>infraserv gmbh & co . hoechst kg</td><td>32</td></tr><tr><td>4</td><td>infraserv gmbh & co . knapsack kg</td><td>27</td></tr></table> research and development our businesses are innovation-oriented and conduct research and development activities to develop new , and optimize existing , production technologies , as well as to develop commercially viable new products and applications . research and development expense was $ 86 million , $ 85 million and $ 104 million for the years ended december 31 , 2014 , 2013 and 2012 , respectively . we consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives . intellectual property we attach importance to protecting our intellectual property , including safeguarding our confidential information and through our patents , trademarks and copyrights , in order to preserve our investment in research and development , manufacturing and marketing . patents may cover processes , equipment , products , intermediate products and product uses . we also seek to register trademarks as a means of protecting the brand names of our company and products . patents . in most industrial countries , patent protection exists for new substances and formulations , as well as for certain unique applications and production processes . however , we do business in regions of the world where intellectual property protection may be limited and difficult to enforce . confidential information . we maintain stringent information security policies and procedures wherever we do business . such information security policies and procedures include data encryption , controls over the disclosure and safekeeping of confidential information and trade secrets , as well as employee awareness training . trademarks . aoplus ae , aoplus ae2 , aoplus ae3 , ateva ae , avicor ae , britecoat ae , celanese ae , celanex ae , celcon ae , celfx 2122 , celstran ae , celvolit ae , clarifoil ae , duroset ae , ecovae ae , factor ae , fortron ae , gur ae , hostaform ae , impet ae , mowilith ae , nutrinova ae , qorus 2122 , riteflex ae , sunett ae , tcx 2122 , thermx ae , tufcor ae , vantage ae , vantageplus 2122 , vantage ae2 , vectra ae , vinamul ae , vitaldose ae , zenite ae and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by celanese . the foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by celanese . fortron ae is a registered trademark of fortron industries llc. . Conversations: q0: what was the value change in research and development expense from 2012 to 2013? -19.0 Question: what was the percent change? Answer:

-0.18269

convfinqa8755

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: hii expects to incur higher costs to complete ships currently under construction in avondale due to anticipated reductions in productivity . as a result , in the second quarter of 2010 , the company increased the estimates to complete lpd-23 and lpd-25 by approximately $ 210 million . the company recognized a $ 113 million pre-tax charge to operating income for these contracts in the second quarter of 2010 . hii is exploring alternative uses of the avondale facility , including alternative opportunities for the workforce . in connection with and as a result of the decision to wind down shipbuilding operations at the avondale , louisiana facility , the company began incurring and paying related employee severance and incentive compensation liabilities and expenditures , asset retirement obligation liabilities that became reasonably estimable , and amounts owed for not meeting certain requirements under its cooperative endeavor agreement with the state of louisiana . the company anticipates that it will incur substantial other restructuring and facilities shutdown related costs , including , but not limited to , severance expense , relocation expense , and asset write-downs related to the avondale facilities . these costs are expected to be allowable expenses under government accounting standards and thus should be recoverable in future years 2019 overhead costs . these future costs could approximate $ 271 million , based on management 2019s current estimate . such costs should be recoverable under existing flexibly priced contracts or future negotiated contracts in accordance with federal acquisition regulation ( 201cfar 201d ) provisions relating to the treatment of restructuring and shutdown related costs . the company is currently in discussions with the u.s . navy regarding its cost submission to support the recoverability of these costs under the far and applicable contracts , and this submission is subject to review and acceptance by the u.s . navy . the defense contract audit agency ( 201cdcaa 201d ) , a dod agency , prepared an initial audit report on the company 2019s cost proposal for restructuring and shutdown related costs of $ 310 million , which stated that the proposal was not adequately supported for the dcaa to reach a conclusion and questioned approximately $ 25 million , or 8% ( 8 % ) , of the costs submitted by the company . accordingly , the dcaa did not accept the proposal as submitted . the company has submitted a revised proposal to address the concerns of the dcaa and to reflect a revised estimated total cost of $ 271 million . should the company 2019s revised proposal be challenged by the u.s . navy , the company would likely pursue prescribed dispute resolution alternatives to resolve the challenge . that process , however , would create uncertainty as to the timing and eventual allowability of the costs related to the wind down of the avondale facility . ultimately , the company anticipates these discussions with the u.s . navy will result in an agreement that is substantially in accordance with management 2019s cost recovery expectations . accordingly , hii has treated these costs as allowable costs in determining the earnings performance on its contracts in process . the actual restructuring expenses related to the wind down may be greater than the company 2019s current estimate , and any inability to recover such costs could result in a material effect on the company 2019s consolidated financial position , results of operations or cash flows . the company also evaluated the effect that the wind down of the avondale facilities might have on the benefit plans in which hii employees participate . hii determined that the potential impact of a curtailment in these plans was not material to its consolidated financial position , results of operations or cash flows . the table below summarizes the company 2019s liability for restructuring and shutdown related costs associated with winding down the avondale facility . as of december 31 , 2011 and 2010 , these costs are comprised primarily of employee severance and retention and incentive bonuses . these amounts were capitalized in inventoried costs , and will be recognized as expenses in cost of product sales beginning in 2014 . ( $ in millions ) employee compensation other accruals total . <table class='wikitable'><tr><td>1</td><td>( $ in millions )</td><td>employee compensation</td><td>other accruals</td><td>total</td></tr><tr><td>2</td><td>balance at january 1 2010</td><td>$ 0</td><td>$ 0</td><td>$ 0</td></tr><tr><td>3</td><td>accrual established</td><td>27</td><td>39</td><td>66</td></tr><tr><td>4</td><td>payments</td><td>0</td><td>0</td><td>0</td></tr><tr><td>5</td><td>adjustments</td><td>0</td><td>0</td><td>0</td></tr><tr><td>6</td><td>balance at december 31 2010</td><td>$ 27</td><td>$ 39</td><td>$ 66</td></tr><tr><td>7</td><td>accrual established</td><td>0</td><td>0</td><td>0</td></tr><tr><td>8</td><td>payments</td><td>-24 ( 24 )</td><td>-36 ( 36 )</td><td>-60 ( 60 )</td></tr><tr><td>9</td><td>adjustments</td><td>47</td><td>-3 ( 3 )</td><td>44</td></tr><tr><td>10</td><td>balance at december 31 2011</td><td>$ 50</td><td>$ 0</td><td>$ 50</td></tr></table> . Conversations: Question: what was the net change in the employee compensation throughout 2011? Answer:

50.0

convfinqa8756

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: hii expects to incur higher costs to complete ships currently under construction in avondale due to anticipated reductions in productivity . as a result , in the second quarter of 2010 , the company increased the estimates to complete lpd-23 and lpd-25 by approximately $ 210 million . the company recognized a $ 113 million pre-tax charge to operating income for these contracts in the second quarter of 2010 . hii is exploring alternative uses of the avondale facility , including alternative opportunities for the workforce . in connection with and as a result of the decision to wind down shipbuilding operations at the avondale , louisiana facility , the company began incurring and paying related employee severance and incentive compensation liabilities and expenditures , asset retirement obligation liabilities that became reasonably estimable , and amounts owed for not meeting certain requirements under its cooperative endeavor agreement with the state of louisiana . the company anticipates that it will incur substantial other restructuring and facilities shutdown related costs , including , but not limited to , severance expense , relocation expense , and asset write-downs related to the avondale facilities . these costs are expected to be allowable expenses under government accounting standards and thus should be recoverable in future years 2019 overhead costs . these future costs could approximate $ 271 million , based on management 2019s current estimate . such costs should be recoverable under existing flexibly priced contracts or future negotiated contracts in accordance with federal acquisition regulation ( 201cfar 201d ) provisions relating to the treatment of restructuring and shutdown related costs . the company is currently in discussions with the u.s . navy regarding its cost submission to support the recoverability of these costs under the far and applicable contracts , and this submission is subject to review and acceptance by the u.s . navy . the defense contract audit agency ( 201cdcaa 201d ) , a dod agency , prepared an initial audit report on the company 2019s cost proposal for restructuring and shutdown related costs of $ 310 million , which stated that the proposal was not adequately supported for the dcaa to reach a conclusion and questioned approximately $ 25 million , or 8% ( 8 % ) , of the costs submitted by the company . accordingly , the dcaa did not accept the proposal as submitted . the company has submitted a revised proposal to address the concerns of the dcaa and to reflect a revised estimated total cost of $ 271 million . should the company 2019s revised proposal be challenged by the u.s . navy , the company would likely pursue prescribed dispute resolution alternatives to resolve the challenge . that process , however , would create uncertainty as to the timing and eventual allowability of the costs related to the wind down of the avondale facility . ultimately , the company anticipates these discussions with the u.s . navy will result in an agreement that is substantially in accordance with management 2019s cost recovery expectations . accordingly , hii has treated these costs as allowable costs in determining the earnings performance on its contracts in process . the actual restructuring expenses related to the wind down may be greater than the company 2019s current estimate , and any inability to recover such costs could result in a material effect on the company 2019s consolidated financial position , results of operations or cash flows . the company also evaluated the effect that the wind down of the avondale facilities might have on the benefit plans in which hii employees participate . hii determined that the potential impact of a curtailment in these plans was not material to its consolidated financial position , results of operations or cash flows . the table below summarizes the company 2019s liability for restructuring and shutdown related costs associated with winding down the avondale facility . as of december 31 , 2011 and 2010 , these costs are comprised primarily of employee severance and retention and incentive bonuses . these amounts were capitalized in inventoried costs , and will be recognized as expenses in cost of product sales beginning in 2014 . ( $ in millions ) employee compensation other accruals total . <table class='wikitable'><tr><td>1</td><td>( $ in millions )</td><td>employee compensation</td><td>other accruals</td><td>total</td></tr><tr><td>2</td><td>balance at january 1 2010</td><td>$ 0</td><td>$ 0</td><td>$ 0</td></tr><tr><td>3</td><td>accrual established</td><td>27</td><td>39</td><td>66</td></tr><tr><td>4</td><td>payments</td><td>0</td><td>0</td><td>0</td></tr><tr><td>5</td><td>adjustments</td><td>0</td><td>0</td><td>0</td></tr><tr><td>6</td><td>balance at december 31 2010</td><td>$ 27</td><td>$ 39</td><td>$ 66</td></tr><tr><td>7</td><td>accrual established</td><td>0</td><td>0</td><td>0</td></tr><tr><td>8</td><td>payments</td><td>-24 ( 24 )</td><td>-36 ( 36 )</td><td>-60 ( 60 )</td></tr><tr><td>9</td><td>adjustments</td><td>47</td><td>-3 ( 3 )</td><td>44</td></tr><tr><td>10</td><td>balance at december 31 2011</td><td>$ 50</td><td>$ 0</td><td>$ 50</td></tr></table> . Conversations: q0: what was the net change in the employee compensation throughout 2011? 50.0 Question: and what was it throughout 2010? Answer:

27.0

convfinqa8757

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 consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries . the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>thereafter</td><td>total</td></tr><tr><td>2</td><td>deferred acquisition payments</td><td>$ 26.0</td><td>$ 12.4</td><td>$ 9.7</td><td>$ 46.4</td><td>$ 18.9</td><td>$ 2.0</td><td>$ 115.4</td></tr><tr><td>3</td><td>redeemable noncontrolling interests and call options with affiliates1</td><td>20.5</td><td>43.8</td><td>32.9</td><td>5.7</td><td>2.2</td><td>10.6</td><td>115.7</td></tr><tr><td>4</td><td>total contingent acquisition payments</td><td>46.5</td><td>56.2</td><td>42.6</td><td>52.1</td><td>21.1</td><td>12.6</td><td>231.1</td></tr><tr><td>5</td><td>less : cash compensation expense included above</td><td>-0.7 ( 0.7 )</td><td>-0.6 ( 0.6 )</td><td>-0.8 ( 0.8 )</td><td>-0.2 ( 0.2 )</td><td>0.0</td><td>0.0</td><td>-2.3 ( 2.3 )</td></tr><tr><td>6</td><td>total</td><td>$ 45.8</td><td>$ 55.6</td><td>$ 41.8</td><td>$ 51.9</td><td>$ 21.1</td><td>$ 12.6</td><td>$ 228.8</td></tr></table> 1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 . these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill . the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired . if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible . Conversations: Question: what was the total of estimated future contingent acquisition obligations payable in cash in 2015? Answer:

41.8

convfinqa8758

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 consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries . the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>thereafter</td><td>total</td></tr><tr><td>2</td><td>deferred acquisition payments</td><td>$ 26.0</td><td>$ 12.4</td><td>$ 9.7</td><td>$ 46.4</td><td>$ 18.9</td><td>$ 2.0</td><td>$ 115.4</td></tr><tr><td>3</td><td>redeemable noncontrolling interests and call options with affiliates1</td><td>20.5</td><td>43.8</td><td>32.9</td><td>5.7</td><td>2.2</td><td>10.6</td><td>115.7</td></tr><tr><td>4</td><td>total contingent acquisition payments</td><td>46.5</td><td>56.2</td><td>42.6</td><td>52.1</td><td>21.1</td><td>12.6</td><td>231.1</td></tr><tr><td>5</td><td>less : cash compensation expense included above</td><td>-0.7 ( 0.7 )</td><td>-0.6 ( 0.6 )</td><td>-0.8 ( 0.8 )</td><td>-0.2 ( 0.2 )</td><td>0.0</td><td>0.0</td><td>-2.3 ( 2.3 )</td></tr><tr><td>6</td><td>total</td><td>$ 45.8</td><td>$ 55.6</td><td>$ 41.8</td><td>$ 51.9</td><td>$ 21.1</td><td>$ 12.6</td><td>$ 228.8</td></tr></table> 1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 . these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill . the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired . if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible . Conversations: q0: what was the total of estimated future contingent acquisition obligations payable in cash in 2015? 41.8 Question: and what was that total for all years? Answer:

228.8

convfinqa8759

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 consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries . the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>thereafter</td><td>total</td></tr><tr><td>2</td><td>deferred acquisition payments</td><td>$ 26.0</td><td>$ 12.4</td><td>$ 9.7</td><td>$ 46.4</td><td>$ 18.9</td><td>$ 2.0</td><td>$ 115.4</td></tr><tr><td>3</td><td>redeemable noncontrolling interests and call options with affiliates1</td><td>20.5</td><td>43.8</td><td>32.9</td><td>5.7</td><td>2.2</td><td>10.6</td><td>115.7</td></tr><tr><td>4</td><td>total contingent acquisition payments</td><td>46.5</td><td>56.2</td><td>42.6</td><td>52.1</td><td>21.1</td><td>12.6</td><td>231.1</td></tr><tr><td>5</td><td>less : cash compensation expense included above</td><td>-0.7 ( 0.7 )</td><td>-0.6 ( 0.6 )</td><td>-0.8 ( 0.8 )</td><td>-0.2 ( 0.2 )</td><td>0.0</td><td>0.0</td><td>-2.3 ( 2.3 )</td></tr><tr><td>6</td><td>total</td><td>$ 45.8</td><td>$ 55.6</td><td>$ 41.8</td><td>$ 51.9</td><td>$ 21.1</td><td>$ 12.6</td><td>$ 228.8</td></tr></table> 1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 . these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill . the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired . if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible . Conversations: q0: what was the total of estimated future contingent acquisition obligations payable in cash in 2015? 41.8 q1: and what was that total for all years? 228.8 Question: how much, then, does that 2015 total represent in relation to this one? Answer:

0.18269

convfinqa8760

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 consolidated financial statements 2013 ( continued ) ( amounts in millions , except per share amounts ) guarantees we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries . the amount of parent company guarantees on lease obligations was $ 410.3 and $ 385.1 as of december 31 , 2012 and 2011 , respectively , and the amount of parent company guarantees primarily relating to credit facilities was $ 283.4 and $ 327.5 as of december 31 , 2012 and 2011 , respectively . in the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee , we would be obligated to pay the amounts covered by that guarantee . as of december 31 , 2012 , there were no material assets pledged as security for such parent company guarantees . contingent acquisition obligations the following table details the estimated future contingent acquisition obligations payable in cash as of december 31 . <table class='wikitable'><tr><td>1</td><td></td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>thereafter</td><td>total</td></tr><tr><td>2</td><td>deferred acquisition payments</td><td>$ 26.0</td><td>$ 12.4</td><td>$ 9.7</td><td>$ 46.4</td><td>$ 18.9</td><td>$ 2.0</td><td>$ 115.4</td></tr><tr><td>3</td><td>redeemable noncontrolling interests and call options with affiliates1</td><td>20.5</td><td>43.8</td><td>32.9</td><td>5.7</td><td>2.2</td><td>10.6</td><td>115.7</td></tr><tr><td>4</td><td>total contingent acquisition payments</td><td>46.5</td><td>56.2</td><td>42.6</td><td>52.1</td><td>21.1</td><td>12.6</td><td>231.1</td></tr><tr><td>5</td><td>less : cash compensation expense included above</td><td>-0.7 ( 0.7 )</td><td>-0.6 ( 0.6 )</td><td>-0.8 ( 0.8 )</td><td>-0.2 ( 0.2 )</td><td>0.0</td><td>0.0</td><td>-2.3 ( 2.3 )</td></tr><tr><td>6</td><td>total</td><td>$ 45.8</td><td>$ 55.6</td><td>$ 41.8</td><td>$ 51.9</td><td>$ 21.1</td><td>$ 12.6</td><td>$ 228.8</td></tr></table> 1 we have entered into certain acquisitions that contain both redeemable noncontrolling interests and call options with similar terms and conditions . we have certain redeemable noncontrolling interests that are exercisable at the discretion of the noncontrolling equity owners as of december 31 , 2012 . these estimated payments of $ 16.4 are included within the total payments expected to be made in 2013 , and will continue to be carried forward into 2014 or beyond until exercised or expired . redeemable noncontrolling interests are included in the table at current exercise price payable in cash , not at applicable redemption value in accordance with the authoritative guidance for classification and measurement of redeemable securities . the estimated amounts listed would be paid in the event of exercise at the earliest exercise date . see note 6 for further information relating to the payment structure of our acquisitions . all payments are contingent upon achieving projected operating performance targets and satisfying other conditions specified in the related agreements and are subject to revisions as the earn-out periods progress . legal matters we are involved in various legal proceedings , and subject to investigations , inspections , audits , inquiries and similar actions by governmental authorities , arising in the normal course of business . we evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount , or potential range , of loss can be reasonably estimated . in certain cases , we cannot reasonably estimate the potential loss because , for example , the litigation is in its early stages . while any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty , management believes that the outcome of these matters , individually and in the aggregate , will not have a material adverse effect on our financial condition , results of operations or cash flows . note 15 : recent accounting standards impairment of indefinite-lived intangible assets in july 2012 , the financial accounting standards board ( 201cfasb 201d ) issued amended guidance to simplify impairment testing of indefinite-lived intangible assets other than goodwill . the amended guidance permits an entity to first assess qualitative factors to determine whether it is 201cmore likely than not 201d that the indefinite-lived intangible asset is impaired . if , after assessing qualitative factors , an entity concludes that it is not 201cmore likely than not 201d that the indefinite-lived intangible . Conversations: q0: what was the total of estimated future contingent acquisition obligations payable in cash in 2015? 41.8 q1: and what was that total for all years? 228.8 q2: how much, then, does that 2015 total represent in relation to this one? 0.18269 Question: and how much is that in percentage? Answer:

18.26923

convfinqa8761

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: leveraged performance units during the year ended may 31 , 2015 , certain executives were granted performance units that we refer to as 201cleveraged performance units , 201d or 201clpus . 201d lpus contain a market condition based on our relative stock price growth over a three-year performance period . the lpus contain a minimum threshold performance which , if not met , would result in no payout . the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares . after the three-year performance period , which concluded in october 2017 , one-third of the earned units converted to unrestricted common stock . the remaining two-thirds converted to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date . we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award . the following table summarizes the changes in unvested restricted stock and performance awards for the year ended december 31 , 2017 , the 2016 fiscal transition period and for the years ended may 31 , 2016 and 2015 : shares weighted-average grant-date fair value ( in thousands ) . <table class='wikitable'><tr><td>1</td><td></td><td>shares ( in thousands )</td><td>weighted-averagegrant-datefair value</td></tr><tr><td>2</td><td>unvested at may 31 2014</td><td>1754</td><td>$ 22.72</td></tr><tr><td>3</td><td>granted</td><td>954</td><td>36.21</td></tr><tr><td>4</td><td>vested</td><td>-648 ( 648 )</td><td>23.17</td></tr><tr><td>5</td><td>forfeited</td><td>-212 ( 212 )</td><td>27.03</td></tr><tr><td>6</td><td>unvested at may 31 2015</td><td>1848</td><td>28.97</td></tr><tr><td>7</td><td>granted</td><td>461</td><td>57.04</td></tr><tr><td>8</td><td>vested</td><td>-633 ( 633 )</td><td>27.55</td></tr><tr><td>9</td><td>forfeited</td><td>-70 ( 70 )</td><td>34.69</td></tr><tr><td>10</td><td>unvested at may 31 2016</td><td>1606</td><td>37.25</td></tr><tr><td>11</td><td>granted</td><td>348</td><td>74.26</td></tr><tr><td>12</td><td>vested</td><td>-639 ( 639 )</td><td>31.38</td></tr><tr><td>13</td><td>forfeited</td><td>-52 ( 52 )</td><td>45.27</td></tr><tr><td>14</td><td>unvested at december 31 2016</td><td>1263</td><td>49.55</td></tr><tr><td>15</td><td>granted</td><td>899</td><td>79.79</td></tr><tr><td>16</td><td>vested</td><td>-858 ( 858 )</td><td>39.26</td></tr><tr><td>17</td><td>forfeited</td><td>-78 ( 78 )</td><td>59.56</td></tr><tr><td>18</td><td>unvested at december 31 2017</td><td>1226</td><td>$ 78.29</td></tr></table> the total fair value of restricted stock and performance awards vested was $ 33.7 million for the year ended december 31 , 2017 , $ 20.0 million for the 2016 fiscal transition period and $ 17.4 million and $ 15.0 million , respectively , for the years ended may 31 , 2016 and 2015 . for restricted stock and performance awards , we recognized compensation expense of $ 35.2 million for the year ended december 31 , 2017 , $ 17.2 million for the 2016 fiscal transition period and $ 28.8 million and $ 19.8 million , respectively , for the years ended may 31 , 2016 and 2015 . as of december 31 , 2017 , there was $ 46.1 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 1.8 years . our restricted stock and performance award plans provide for accelerated vesting under certain conditions . stock options stock options are granted with an exercise price equal to 100% ( 100 % ) of fair market value of our common stock on the date of grant and have a term of ten years . stock options granted before the year ended may 31 , 2015 vest in equal installments on each of the first four anniversaries of the grant date . stock options granted during the year ended may 31 , 2015 and thereafter vest in equal installments on each of the first three anniversaries of the grant date . our stock option plans provide for accelerated vesting under certain conditions . global payments inc . | 2017 form 10-k annual report 2013 91 . Conversations: Question: what was the change in the total fair value of restricted stock and performance awards vested from 2016 to 2017, in millions? Answer:

13.7

convfinqa8762

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: leveraged performance units during the year ended may 31 , 2015 , certain executives were granted performance units that we refer to as 201cleveraged performance units , 201d or 201clpus . 201d lpus contain a market condition based on our relative stock price growth over a three-year performance period . the lpus contain a minimum threshold performance which , if not met , would result in no payout . the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares . after the three-year performance period , which concluded in october 2017 , one-third of the earned units converted to unrestricted common stock . the remaining two-thirds converted to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date . we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award . the following table summarizes the changes in unvested restricted stock and performance awards for the year ended december 31 , 2017 , the 2016 fiscal transition period and for the years ended may 31 , 2016 and 2015 : shares weighted-average grant-date fair value ( in thousands ) . <table class='wikitable'><tr><td>1</td><td></td><td>shares ( in thousands )</td><td>weighted-averagegrant-datefair value</td></tr><tr><td>2</td><td>unvested at may 31 2014</td><td>1754</td><td>$ 22.72</td></tr><tr><td>3</td><td>granted</td><td>954</td><td>36.21</td></tr><tr><td>4</td><td>vested</td><td>-648 ( 648 )</td><td>23.17</td></tr><tr><td>5</td><td>forfeited</td><td>-212 ( 212 )</td><td>27.03</td></tr><tr><td>6</td><td>unvested at may 31 2015</td><td>1848</td><td>28.97</td></tr><tr><td>7</td><td>granted</td><td>461</td><td>57.04</td></tr><tr><td>8</td><td>vested</td><td>-633 ( 633 )</td><td>27.55</td></tr><tr><td>9</td><td>forfeited</td><td>-70 ( 70 )</td><td>34.69</td></tr><tr><td>10</td><td>unvested at may 31 2016</td><td>1606</td><td>37.25</td></tr><tr><td>11</td><td>granted</td><td>348</td><td>74.26</td></tr><tr><td>12</td><td>vested</td><td>-639 ( 639 )</td><td>31.38</td></tr><tr><td>13</td><td>forfeited</td><td>-52 ( 52 )</td><td>45.27</td></tr><tr><td>14</td><td>unvested at december 31 2016</td><td>1263</td><td>49.55</td></tr><tr><td>15</td><td>granted</td><td>899</td><td>79.79</td></tr><tr><td>16</td><td>vested</td><td>-858 ( 858 )</td><td>39.26</td></tr><tr><td>17</td><td>forfeited</td><td>-78 ( 78 )</td><td>59.56</td></tr><tr><td>18</td><td>unvested at december 31 2017</td><td>1226</td><td>$ 78.29</td></tr></table> the total fair value of restricted stock and performance awards vested was $ 33.7 million for the year ended december 31 , 2017 , $ 20.0 million for the 2016 fiscal transition period and $ 17.4 million and $ 15.0 million , respectively , for the years ended may 31 , 2016 and 2015 . for restricted stock and performance awards , we recognized compensation expense of $ 35.2 million for the year ended december 31 , 2017 , $ 17.2 million for the 2016 fiscal transition period and $ 28.8 million and $ 19.8 million , respectively , for the years ended may 31 , 2016 and 2015 . as of december 31 , 2017 , there was $ 46.1 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 1.8 years . our restricted stock and performance award plans provide for accelerated vesting under certain conditions . stock options stock options are granted with an exercise price equal to 100% ( 100 % ) of fair market value of our common stock on the date of grant and have a term of ten years . stock options granted before the year ended may 31 , 2015 vest in equal installments on each of the first four anniversaries of the grant date . stock options granted during the year ended may 31 , 2015 and thereafter vest in equal installments on each of the first three anniversaries of the grant date . our stock option plans provide for accelerated vesting under certain conditions . global payments inc . | 2017 form 10-k annual report 2013 91 . Conversations: q0: what was the change in the total fair value of restricted stock and performance awards vested from 2016 to 2017, in millions? 13.7 Question: and what is this change as a percentage of that fair value in 2016? Answer:

0.685

convfinqa8763

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: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 . the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>risk free interest rate</td><td>1.2% ( 1.2 % )</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td></tr><tr><td>3</td><td>volatility</td><td>20.4% ( 20.4 % )</td><td>21.7% ( 21.7 % )</td><td>21.2% ( 21.2 % )</td></tr><tr><td>4</td><td>dividend yield</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td></tr><tr><td>5</td><td>weighted average expected life ( years )</td><td>4.2</td><td>4.2</td><td>4.2</td></tr></table> the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates . the company bases the risk-free interest rate that is used in the stock option valuation model on u.s . n treasury securities issued with maturities similar to the expected term of the options . the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends . the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations . the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends . the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 . these shares were granted at the closing market price on the date of grant and vest annually over three years . as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining . the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above . the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation . of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued . total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards . as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively . german pension plans our german operations have unfunded , defined benefit plan obligations . these obligations relate to benefits to be paid to germanaa employees upon retirement . the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively . the plan remains unfunded as of december 31 , 2016 . ( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( "ps&e" ) businesses for $ 850 million . the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts . the divestiture is consistent with our strategy to serve the financial services markets . we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million . net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) . the ps&e businesses are included in the corporate and other segment . the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will . Conversations: Question: what was the fair value of options at the end of 2016? Answer:

9.35

convfinqa8764

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: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 . the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>risk free interest rate</td><td>1.2% ( 1.2 % )</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td></tr><tr><td>3</td><td>volatility</td><td>20.4% ( 20.4 % )</td><td>21.7% ( 21.7 % )</td><td>21.2% ( 21.2 % )</td></tr><tr><td>4</td><td>dividend yield</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td></tr><tr><td>5</td><td>weighted average expected life ( years )</td><td>4.2</td><td>4.2</td><td>4.2</td></tr></table> the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates . the company bases the risk-free interest rate that is used in the stock option valuation model on u.s . n treasury securities issued with maturities similar to the expected term of the options . the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends . the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations . the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends . the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 . these shares were granted at the closing market price on the date of grant and vest annually over three years . as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining . the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above . the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation . of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued . total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards . as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively . german pension plans our german operations have unfunded , defined benefit plan obligations . these obligations relate to benefits to be paid to germanaa employees upon retirement . the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively . the plan remains unfunded as of december 31 , 2016 . ( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( "ps&e" ) businesses for $ 850 million . the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts . the divestiture is consistent with our strategy to serve the financial services markets . we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million . net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) . the ps&e businesses are included in the corporate and other segment . the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will . Conversations: q0: what was the fair value of options at the end of 2016? 9.35 Question: what was the fair value of options at the end of 2015? Answer:

10.67

convfinqa8765

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: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 . the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>risk free interest rate</td><td>1.2% ( 1.2 % )</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td></tr><tr><td>3</td><td>volatility</td><td>20.4% ( 20.4 % )</td><td>21.7% ( 21.7 % )</td><td>21.2% ( 21.2 % )</td></tr><tr><td>4</td><td>dividend yield</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td></tr><tr><td>5</td><td>weighted average expected life ( years )</td><td>4.2</td><td>4.2</td><td>4.2</td></tr></table> the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates . the company bases the risk-free interest rate that is used in the stock option valuation model on u.s . n treasury securities issued with maturities similar to the expected term of the options . the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends . the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations . the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends . the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 . these shares were granted at the closing market price on the date of grant and vest annually over three years . as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining . the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above . the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation . of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued . total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards . as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively . german pension plans our german operations have unfunded , defined benefit plan obligations . these obligations relate to benefits to be paid to germanaa employees upon retirement . the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively . the plan remains unfunded as of december 31 , 2016 . ( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( "ps&e" ) businesses for $ 850 million . the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts . the divestiture is consistent with our strategy to serve the financial services markets . we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million . net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) . the ps&e businesses are included in the corporate and other segment . the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will . Conversations: q0: what was the fair value of options at the end of 2016? 9.35 q1: what was the fair value of options at the end of 2015? 10.67 Question: what was the change in value from 2015 to 2016? Answer:

-1.32

convfinqa8766

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: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 . the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>risk free interest rate</td><td>1.2% ( 1.2 % )</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td></tr><tr><td>3</td><td>volatility</td><td>20.4% ( 20.4 % )</td><td>21.7% ( 21.7 % )</td><td>21.2% ( 21.2 % )</td></tr><tr><td>4</td><td>dividend yield</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td></tr><tr><td>5</td><td>weighted average expected life ( years )</td><td>4.2</td><td>4.2</td><td>4.2</td></tr></table> the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates . the company bases the risk-free interest rate that is used in the stock option valuation model on u.s . n treasury securities issued with maturities similar to the expected term of the options . the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends . the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations . the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends . the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 . these shares were granted at the closing market price on the date of grant and vest annually over three years . as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining . the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above . the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation . of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued . total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards . as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively . german pension plans our german operations have unfunded , defined benefit plan obligations . these obligations relate to benefits to be paid to germanaa employees upon retirement . the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively . the plan remains unfunded as of december 31 , 2016 . ( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( "ps&e" ) businesses for $ 850 million . the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts . the divestiture is consistent with our strategy to serve the financial services markets . we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million . net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) . the ps&e businesses are included in the corporate and other segment . the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will . Conversations: q0: what was the fair value of options at the end of 2016? 9.35 q1: what was the fair value of options at the end of 2015? 10.67 q2: what was the change in value from 2015 to 2016? -1.32 Question: what was the fair value of options at the end of 2015? Answer:

10.67

convfinqa8767

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: fidelity national information services , inc . and subsidiaries notes to consolidated financial statements - ( continued ) ( a ) intrinsic value is based on a closing stock price as of december 31 , 2016 of $ 75.64 . the weighted average fair value of options granted during the years ended december 31 , 2016 , 2015 and 2014 was estimated to be $ 9.35 , $ 10.67 and $ 9.15 , respectively , using the black-scholes option pricing model with the assumptions below: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>risk free interest rate</td><td>1.2% ( 1.2 % )</td><td>1.4% ( 1.4 % )</td><td>1.4% ( 1.4 % )</td></tr><tr><td>3</td><td>volatility</td><td>20.4% ( 20.4 % )</td><td>21.7% ( 21.7 % )</td><td>21.2% ( 21.2 % )</td></tr><tr><td>4</td><td>dividend yield</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td><td>1.6% ( 1.6 % )</td></tr><tr><td>5</td><td>weighted average expected life ( years )</td><td>4.2</td><td>4.2</td><td>4.2</td></tr></table> the company estimates future forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates . the company bases the risk-free interest rate that is used in the stock option valuation model on u.s . n treasury securities issued with maturities similar to the expected term of the options . the expected stock volatility factor is determined using historical daily price changes of the company's common stock over the most recent period commensurate with the expected term of the option and the impact of any expected trends . the dividend yield assumption is based on the current dividend yield at the grant tt date or management's forecasted expectations . the expected life assumption is determined by calculating the average term from the tt company's historical stock option activity and considering the impact of expected future trends . the company granted a total of 1 million restricted stock shares at prices ranging from $ 56.44 to $ 79.41 on various dates in 2016 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 61.33 to $ 69.33 on various dates in 20t 15 . the company granted a total of 1 million restricted stock shares at prices ranging from $ 52.85 to $ 64.04 on various dates in 2014 . these shares were granted at the closing market price on the date of grant and vest annually over three years . as of december 31 , 2016 and 2015 , we have approximately 3 million and 4 million unvested restricted shares remaining . the december 31 , 2016 balance includes those rsu's converted in connection with the sungard acquisition as noted above . the company has provided for total stock compensation expense of $ 137 million , $ 98 million and $ 56 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively , which is included in selling , general , and administrative expense in the consolidated statements of earnings , unless the expense is attributable to a discontinued operation . of the total stock compensation expense , $ 2 million for 2014 relates to liability based awards that will not be credited to additional paid in capital until issued . total d compensation expense for 2016 and 2015 did not include amounts relating to liability based awards . as of december 31 , 2016 and 2015 , the total unrecognized compensation cost related to non-vested stock awards is $ 141 million and $ 206 million , respectively , which is expected to be recognized in pre-tax income over a weighted average period of 1.4 years and 1.6 years , respectively . german pension plans our german operations have unfunded , defined benefit plan obligations . these obligations relate to benefits to be paid to germanaa employees upon retirement . the accumulated benefit obligation as of december 31 , 2016 and 2015 , was $ 49 million and $ 48 million , respectively , and the projected benefit obligation was $ 50 million and $ 49 million , respectively . the plan remains unfunded as of december 31 , 2016 . ( 15 ) divestitures and discontinued operations on december 7 , 2016 , the company entered into a definitive agreement to sell the sungard public sector and education ( "ps&e" ) businesses for $ 850 million . the transaction included all ps&e solutions , which provide a comprehensive set of technology solutions to address public safety and public administration needs of government entities as well asn the needs of k-12 school districts . the divestiture is consistent with our strategy to serve the financial services markets . we received cash proceeds , net of taxes and transaction-related expenses of approximately $ 500 million . net cash proceeds are expected to be used to reduce outstanding debt ( see note 10 ) . the ps&e businesses are included in the corporate and other segment . the transaction closed on february 1 , 2017 , resulting in an expected pre-tax gain ranging from $ 85 million to $ 90 million that will . Conversations: q0: what was the fair value of options at the end of 2016? 9.35 q1: what was the fair value of options at the end of 2015? 10.67 q2: what was the change in value from 2015 to 2016? -1.32 q3: what was the fair value of options at the end of 2015? 10.67 Question: what is the percent change? Answer:

-0.12371

convfinqa8768

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: b . investments . fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets . fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) . the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities . the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities . fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency . the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities . for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions . interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) . unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses . short-term investments are stated at cost , which approximates market value . realized gains or losses on sales of investments are determined on the basis of identified cost . for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s . treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security . for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs . when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value . retrospective adjustments are employed to recalculate the values of asset-backed securities . each acquisition lot is reviewed to recalculate the effective yield . the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition . outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities . conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types . other invested assets include limited partnerships and rabbi trusts . limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag . c . uncollectible receivable balances . the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances . such reserves are presented in the table below for the periods indicated. . <table class='wikitable'><tr><td>1</td><td>( dollars in thousands )</td><td>years ended december 31 , 2014</td><td>years ended december 31 , 2013</td></tr><tr><td>2</td><td>reinsurance receivables and premium receivables</td><td>$ 29497</td><td>$ 29905</td></tr></table> . Conversations: Question: what was the difference in reinsurance receivables and premium receivables between 2013 and 2014? Answer:

-408.0

convfinqa8769

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: b . investments . fixed maturity and equity security investments available for sale , at market value , reflect unrealized appreciation and depreciation , as a result of temporary changes in market value during the period , in shareholders 2019 equity , net of income taxes in 201caccumulated other comprehensive income ( loss ) 201d in the consolidated balance sheets . fixed maturity and equity securities carried at fair value reflect fair value re- measurements as net realized capital gains and losses in the consolidated statements of operations and comprehensive income ( loss ) . the company records changes in fair value for its fixed maturities available for sale , at market value through shareholders 2019 equity , net of taxes in accumulated other comprehensive income ( loss ) since cash flows from these investments will be primarily used to settle its reserve for losses and loss adjustment expense liabilities . the company anticipates holding these investments for an extended period as the cash flow from interest and maturities will fund the projected payout of these liabilities . fixed maturities carried at fair value represent a portfolio of convertible bond securities , which have characteristics similar to equity securities and at times , designated foreign denominated fixed maturity securities , which will be used to settle loss and loss adjustment reserves in the same currency . the company carries all of its equity securities at fair value except for mutual fund investments whose underlying investments are comprised of fixed maturity securities . for equity securities , available for sale , at fair value , the company reflects changes in value as net realized capital gains and losses since these securities may be sold in the near term depending on financial market conditions . interest income on all fixed maturities and dividend income on all equity securities are included as part of net investment income in the consolidated statements of operations and comprehensive income ( loss ) . unrealized losses on fixed maturities , which are deemed other-than-temporary and related to the credit quality of a security , are charged to net income ( loss ) as net realized capital losses . short-term investments are stated at cost , which approximates market value . realized gains or losses on sales of investments are determined on the basis of identified cost . for non- publicly traded securities , market prices are determined through the use of pricing models that evaluate securities relative to the u.s . treasury yield curve , taking into account the issue type , credit quality , and cash flow characteristics of each security . for publicly traded securities , market value is based on quoted market prices or valuation models that use observable market inputs . when a sector of the financial markets is inactive or illiquid , the company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value . retrospective adjustments are employed to recalculate the values of asset-backed securities . each acquisition lot is reviewed to recalculate the effective yield . the recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition . outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities . conditional prepayment rates , computed with life to date factor histories and weighted average maturities , are used to effect the calculation of projected and prepayments for pass-through security types . other invested assets include limited partnerships and rabbi trusts . limited partnerships are accounted for under the equity method of accounting , which can be recorded on a monthly or quarterly lag . c . uncollectible receivable balances . the company provides reserves for uncollectible reinsurance recoverable and premium receivable balances based on management 2019s assessment of the collectability of the outstanding balances . such reserves are presented in the table below for the periods indicated. . <table class='wikitable'><tr><td>1</td><td>( dollars in thousands )</td><td>years ended december 31 , 2014</td><td>years ended december 31 , 2013</td></tr><tr><td>2</td><td>reinsurance receivables and premium receivables</td><td>$ 29497</td><td>$ 29905</td></tr></table> . Conversations: q0: what was the difference in reinsurance receivables and premium receivables between 2013 and 2014? -408.0 Question: what was the ratio of reinsurance receivables and premium receivables from 2014 to 2013? Answer:

0.98636

convfinqa8770

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 statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2012 and 2011: . <table class='wikitable'><tr><td>1</td><td></td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries</td><td>$ 6410</td><td>$ 7388</td></tr><tr><td>3</td><td>property and casualty insurance subsidiaries</td><td>7645</td><td>7412</td></tr><tr><td>4</td><td>total</td><td>$ 14055</td><td>$ 14800</td></tr></table> statutory capital and surplus for the u.s . life insurance subsidiaries , including domestic captive insurance subsidiaries , decreased by $ 978 , primarily due to variable annuity surplus impacts of approximately $ 425 , a $ 200 increase in reserves on a change in valuation basis , $ 200 transfer of the mutual funds business from the u.s . life insurance companies to the life holding company , and an increase in the asset valuation reserve of $ 115 . as a result of the january 2013 statutory gain from the sale of the retirement plans and individual life businesses , the company's pro forma january 2 , 2013 u.s . life statutory surplus was estimated to be $ 8.1 billion , before approximately $ 1.5 billion in extraordinary dividends and return of capital to hfsg holding company . statutory capital and surplus for the property and casualty insurance subsidiaries increased by $ 233 , primarily due to statutory net income , after tax , of $ 727 , unrealized gains of $ 249 , and an increase in statutory admitted deferred tax assets of $ 77 , capital contributions of $ 14 , and an increase of statutory admitted assets of $ 7 , partially offset by dividends to the hfsg holding company of $ 841 . both net income and dividends are net of interest payments and dividends , respectively , on an intercompany note between hartford holdings , inc . and hartford fire insurance company . the company also holds regulatory capital and surplus for its operations in japan . under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.1 billion and $ 1.3 billion as of december 31 , 2012 and 2011 , respectively . statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s . generally accepted accounting principles ( 201cu.s . gaap 201d ) was $ 22.4 billion as of december 31 , 2012 . the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cu.s . stat 201d ) was $ 14.1 billion as of december 31 , 2012 . significant differences between u.s . gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with u.s . stat include the following : 2022 u.s . stat excludes equity of non-insurance and foreign insurance subsidiaries not held by u.s . insurance subsidiaries . 2022 costs incurred by the company to acquire insurance policies are deferred under u.s . gaap while those costs are expensed immediately under u.s . 2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s . gaap while those amounts deferred are subject to limitations under u.s . stat . 2022 the assumptions used in the determination of life benefit reserves is prescribed under u.s . stat , while the assumptions used under u.s . gaap are generally the company 2019s best estimates . the methodologies for determining life insurance reserve amounts may also be different . for example , reserving for living benefit reserves under u.s . stat is generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines , while under u.s . gaap , those same living benefits may be considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves . the sensitivity of these life insurance reserves to changes in equity markets , as applicable , will be different between u.s . gaap and u.s . stat . 2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s . gaap , while u.s . stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value . 2022 u.s . stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s . gaap does not . also , for those realized gains and losses caused by changes in interest rates , u.s . stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s . gaap does not . 2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s . gaap , while under u.s . stat goodwill is amortized over a period not to exceed 10 years and the amount of goodwill is limited. . Conversations: Question: in 2012, what percentage did the property and casualty insurance subsidiaries represent in relation to the total statutory surplus for the company 2019s insurance companies? Answer:

0.54393

convfinqa8771

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 statutory surplus the table below sets forth statutory surplus for the company 2019s insurance companies as of december 31 , 2012 and 2011: . <table class='wikitable'><tr><td>1</td><td></td><td>2012</td><td>2011</td></tr><tr><td>2</td><td>u.s . life insurance subsidiaries includes domestic captive insurance subsidiaries</td><td>$ 6410</td><td>$ 7388</td></tr><tr><td>3</td><td>property and casualty insurance subsidiaries</td><td>7645</td><td>7412</td></tr><tr><td>4</td><td>total</td><td>$ 14055</td><td>$ 14800</td></tr></table> statutory capital and surplus for the u.s . life insurance subsidiaries , including domestic captive insurance subsidiaries , decreased by $ 978 , primarily due to variable annuity surplus impacts of approximately $ 425 , a $ 200 increase in reserves on a change in valuation basis , $ 200 transfer of the mutual funds business from the u.s . life insurance companies to the life holding company , and an increase in the asset valuation reserve of $ 115 . as a result of the january 2013 statutory gain from the sale of the retirement plans and individual life businesses , the company's pro forma january 2 , 2013 u.s . life statutory surplus was estimated to be $ 8.1 billion , before approximately $ 1.5 billion in extraordinary dividends and return of capital to hfsg holding company . statutory capital and surplus for the property and casualty insurance subsidiaries increased by $ 233 , primarily due to statutory net income , after tax , of $ 727 , unrealized gains of $ 249 , and an increase in statutory admitted deferred tax assets of $ 77 , capital contributions of $ 14 , and an increase of statutory admitted assets of $ 7 , partially offset by dividends to the hfsg holding company of $ 841 . both net income and dividends are net of interest payments and dividends , respectively , on an intercompany note between hartford holdings , inc . and hartford fire insurance company . the company also holds regulatory capital and surplus for its operations in japan . under the accounting practices and procedures governed by japanese regulatory authorities , the company 2019s statutory capital and surplus was $ 1.1 billion and $ 1.3 billion as of december 31 , 2012 and 2011 , respectively . statutory capital the company 2019s stockholders 2019 equity , as prepared using u.s . generally accepted accounting principles ( 201cu.s . gaap 201d ) was $ 22.4 billion as of december 31 , 2012 . the company 2019s estimated aggregate statutory capital and surplus , as prepared in accordance with the national association of insurance commissioners 2019 accounting practices and procedures manual ( 201cu.s . stat 201d ) was $ 14.1 billion as of december 31 , 2012 . significant differences between u.s . gaap stockholders 2019 equity and aggregate statutory capital and surplus prepared in accordance with u.s . stat include the following : 2022 u.s . stat excludes equity of non-insurance and foreign insurance subsidiaries not held by u.s . insurance subsidiaries . 2022 costs incurred by the company to acquire insurance policies are deferred under u.s . gaap while those costs are expensed immediately under u.s . 2022 temporary differences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are evaluated for recoverability under u.s . gaap while those amounts deferred are subject to limitations under u.s . stat . 2022 the assumptions used in the determination of life benefit reserves is prescribed under u.s . stat , while the assumptions used under u.s . gaap are generally the company 2019s best estimates . the methodologies for determining life insurance reserve amounts may also be different . for example , reserving for living benefit reserves under u.s . stat is generally addressed by the commissioners 2019 annuity reserving valuation methodology and the related actuarial guidelines , while under u.s . gaap , those same living benefits may be considered embedded derivatives and recorded at fair value or they may be considered sop 03-1 reserves . the sensitivity of these life insurance reserves to changes in equity markets , as applicable , will be different between u.s . gaap and u.s . stat . 2022 the difference between the amortized cost and fair value of fixed maturity and other investments , net of tax , is recorded as an increase or decrease to the carrying value of the related asset and to equity under u.s . gaap , while u.s . stat only records certain securities at fair value , such as equity securities and certain lower rated bonds required by the naic to be recorded at the lower of amortized cost or fair value . 2022 u.s . stat for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity risks associated with certain invested assets ( the asset valuation reserve ) , while u.s . gaap does not . also , for those realized gains and losses caused by changes in interest rates , u.s . stat for life insurance companies defers and amortizes the gains and losses , caused by changes in interest rates , into income over the original life to maturity of the asset sold ( the interest maintenance reserve ) while u.s . gaap does not . 2022 goodwill arising from the acquisition of a business is tested for recoverability on an annual basis ( or more frequently , as necessary ) for u.s . gaap , while under u.s . stat goodwill is amortized over a period not to exceed 10 years and the amount of goodwill is limited. . Conversations: q0: in 2012, what percentage did the property and casualty insurance subsidiaries represent in relation to the total statutory surplus for the company 2019s insurance companies? 0.54393 Question: and what was the change in the value of those property and casualty insurance subsidiaries since 2011? Answer:

233.0

convfinqa8772

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: republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 38.3</td><td>$ 45.3</td><td>$ 48.1</td></tr><tr><td>3</td><td>additions charged to expense</td><td>22.6</td><td>16.1</td><td>29.7</td></tr><tr><td>4</td><td>accounts written-off</td><td>-22.0 ( 22.0 )</td><td>-23.1 ( 23.1 )</td><td>-32.5 ( 32.5 )</td></tr><tr><td>5</td><td>balance at end of year</td><td>$ 38.9</td><td>$ 38.3</td><td>$ 45.3</td></tr></table> restricted cash and marketable securities as of december 31 , 2014 , we had $ 115.6 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. . Conversations: Question: what was the beginning balance for the allowance for doubtful accounts in 2014? Answer:

38.3

convfinqa8773

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: republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 38.3</td><td>$ 45.3</td><td>$ 48.1</td></tr><tr><td>3</td><td>additions charged to expense</td><td>22.6</td><td>16.1</td><td>29.7</td></tr><tr><td>4</td><td>accounts written-off</td><td>-22.0 ( 22.0 )</td><td>-23.1 ( 23.1 )</td><td>-32.5 ( 32.5 )</td></tr><tr><td>5</td><td>balance at end of year</td><td>$ 38.9</td><td>$ 38.3</td><td>$ 45.3</td></tr></table> restricted cash and marketable securities as of december 31 , 2014 , we had $ 115.6 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. . Conversations: q0: what was the beginning balance for the allowance for doubtful accounts in 2014? 38.3 Question: and in 2013? Answer:

45.3

convfinqa8774

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: republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 38.3</td><td>$ 45.3</td><td>$ 48.1</td></tr><tr><td>3</td><td>additions charged to expense</td><td>22.6</td><td>16.1</td><td>29.7</td></tr><tr><td>4</td><td>accounts written-off</td><td>-22.0 ( 22.0 )</td><td>-23.1 ( 23.1 )</td><td>-32.5 ( 32.5 )</td></tr><tr><td>5</td><td>balance at end of year</td><td>$ 38.9</td><td>$ 38.3</td><td>$ 45.3</td></tr></table> restricted cash and marketable securities as of december 31 , 2014 , we had $ 115.6 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. . Conversations: q0: what was the beginning balance for the allowance for doubtful accounts in 2014? 38.3 q1: and in 2013? 45.3 Question: so what was the change between these two balances? Answer:

-7.0

convfinqa8775

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: republic services , inc . notes to consolidated financial statements 2014 ( continued ) credit exposure , we continually monitor the credit worthiness of the financial institutions where we have deposits . concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services , as well as the dispersion of our operations across many geographic areas . we provide services to commercial , industrial , municipal and residential customers in the united states and puerto rico . we perform ongoing credit evaluations of our customers , but generally do not require collateral to support customer receivables . we establish an allowance for doubtful accounts based on various factors including the credit risk of specific customers , age of receivables outstanding , historical trends , economic conditions and other information . accounts receivable , net accounts receivable represent receivables from customers for collection , transfer , recycling , disposal and other services . our receivables are recorded when billed or when the related revenue is earned , if earlier , and represent claims against third parties that will be settled in cash . the carrying value of our receivables , net of the allowance for doubtful accounts and customer credits , represents their estimated net realizable value . provisions for doubtful accounts are evaluated on a monthly basis and are recorded based on our historical collection experience , the age of the receivables , specific customer information and economic conditions . we also review outstanding balances on an account-specific basis . in general , reserves are provided for accounts receivable in excess of 90 days outstanding . past due receivable balances are written-off when our collection efforts have been unsuccessful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31: . <table class='wikitable'><tr><td>1</td><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>2</td><td>balance at beginning of year</td><td>$ 38.3</td><td>$ 45.3</td><td>$ 48.1</td></tr><tr><td>3</td><td>additions charged to expense</td><td>22.6</td><td>16.1</td><td>29.7</td></tr><tr><td>4</td><td>accounts written-off</td><td>-22.0 ( 22.0 )</td><td>-23.1 ( 23.1 )</td><td>-32.5 ( 32.5 )</td></tr><tr><td>5</td><td>balance at end of year</td><td>$ 38.9</td><td>$ 38.3</td><td>$ 45.3</td></tr></table> restricted cash and marketable securities as of december 31 , 2014 , we had $ 115.6 million of restricted cash and marketable securities . we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills , transfer stations , collection and recycling centers . the funds are deposited directly into trust accounts by the bonding authorities at the time of issuance . as the use of these funds is contractually restricted , and we do not have the ability to use these funds for general operating purposes , they are classified as restricted cash and marketable securities in our consolidated balance sheets . in the normal course of business , we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with municipal residential collection contracts , closure or post- closure of landfills , environmental remediation , environmental permits , and business licenses and permits as a financial guarantee of our performance . at several of our landfills , we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts . property and equipment we record property and equipment at cost . expenditures for major additions and improvements to facilities are capitalized , while maintenance and repairs are charged to expense as incurred . when property is retired or otherwise disposed , the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income. . Conversations: q0: what was the beginning balance for the allowance for doubtful accounts in 2014? 38.3 q1: and in 2013? 45.3 q2: so what was the change between these two balances? -7.0 Question: and the percentage change? Answer:

-0.15453

convfinqa8776

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: approved by the board of directors on april 21 , 2004 and expired on april 30 , 2006 . sources and uses in financing activities during 2005 related primarily to uses for the payment of a dividend ( $ 54.0 million ) and stock repurchase ( $ 26.7 million ) , and a source of cash from the issuance of common shares related to the exercise of employee stock options , the related tax benefit , and the employee stock purchase plan ( $ 9.7 million ) . cash dividends paid to shareholders were $ 162.5 million , $ 107.9 million , and $ 54.0 million during fiscal years 2007 , 2006 , and 2005 , respectively . we believe that our existing cash balances and cash flow from operations will be sufficient to meet our projected capital expenditures , working capital and other cash requirements at least through the end of fiscal 2010 . contractual obligations and commercial commitments future commitments of garmin , as of december 29 , 2007 , aggregated by type of contractual obligation . <table class='wikitable'><tr><td>1</td><td>contractual obligations</td><td>payments due by period total</td><td>payments due by period less than 1 year</td><td>payments due by period 1-3 years</td><td>payments due by period 3-5 years</td><td>payments due by period more than 5 years</td></tr><tr><td>2</td><td>operating leases</td><td>$ 43438</td><td>$ 6581</td><td>$ 11582</td><td>$ 9263</td><td>$ 16012</td></tr><tr><td>3</td><td>purchase obligations</td><td>5078</td><td>422</td><td>2251</td><td>2405</td><td>0</td></tr><tr><td>4</td><td>total</td><td>$ 48516</td><td>$ 7003</td><td>$ 13833</td><td>$ 11668</td><td>$ 16012</td></tr></table> operating leases describes lease obligations associated with garmin facilities located in the u.s. , taiwan , the u.k. , and canada . purchase obligations are the aggregate of those purchase orders that were outstanding on december 29 , 2007 ; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business . off-balance sheet arrangements we do not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosures about market risk market sensitivity we have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials . product pricing and raw materials costs are both significantly influenced by semiconductor market conditions . historically , during cyclical industry downturns , we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs . inflation we do not believe that inflation has had a material effect on our business , financial condition or results of operations . if our costs were to become subject to significant inflationary pressures , we may not be able to fully offset such higher costs through price increases . our inability or failure to do so could adversely affect our business , financial condition and results of operations . foreign currency exchange rate risk the operation of garmin 2019s subsidiaries in international markets results in exposure to movements in currency exchange rates . we generally have not been significantly affected by foreign exchange fluctuations . Conversations: Question: what portion of total obligations are related to operating leases? Answer:

0.89533

convfinqa8777

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: approved by the board of directors on april 21 , 2004 and expired on april 30 , 2006 . sources and uses in financing activities during 2005 related primarily to uses for the payment of a dividend ( $ 54.0 million ) and stock repurchase ( $ 26.7 million ) , and a source of cash from the issuance of common shares related to the exercise of employee stock options , the related tax benefit , and the employee stock purchase plan ( $ 9.7 million ) . cash dividends paid to shareholders were $ 162.5 million , $ 107.9 million , and $ 54.0 million during fiscal years 2007 , 2006 , and 2005 , respectively . we believe that our existing cash balances and cash flow from operations will be sufficient to meet our projected capital expenditures , working capital and other cash requirements at least through the end of fiscal 2010 . contractual obligations and commercial commitments future commitments of garmin , as of december 29 , 2007 , aggregated by type of contractual obligation . <table class='wikitable'><tr><td>1</td><td>contractual obligations</td><td>payments due by period total</td><td>payments due by period less than 1 year</td><td>payments due by period 1-3 years</td><td>payments due by period 3-5 years</td><td>payments due by period more than 5 years</td></tr><tr><td>2</td><td>operating leases</td><td>$ 43438</td><td>$ 6581</td><td>$ 11582</td><td>$ 9263</td><td>$ 16012</td></tr><tr><td>3</td><td>purchase obligations</td><td>5078</td><td>422</td><td>2251</td><td>2405</td><td>0</td></tr><tr><td>4</td><td>total</td><td>$ 48516</td><td>$ 7003</td><td>$ 13833</td><td>$ 11668</td><td>$ 16012</td></tr></table> operating leases describes lease obligations associated with garmin facilities located in the u.s. , taiwan , the u.k. , and canada . purchase obligations are the aggregate of those purchase orders that were outstanding on december 29 , 2007 ; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business . off-balance sheet arrangements we do not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosures about market risk market sensitivity we have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials . product pricing and raw materials costs are both significantly influenced by semiconductor market conditions . historically , during cyclical industry downturns , we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs . inflation we do not believe that inflation has had a material effect on our business , financial condition or results of operations . if our costs were to become subject to significant inflationary pressures , we may not be able to fully offset such higher costs through price increases . our inability or failure to do so could adversely affect our business , financial condition and results of operations . foreign currency exchange rate risk the operation of garmin 2019s subsidiaries in international markets results in exposure to movements in currency exchange rates . we generally have not been significantly affected by foreign exchange fluctuations . Conversations: q0: what portion of total obligations are related to operating leases? 0.89533 Question: what is the total purchase obligations as of dec 29, 2007? Answer:

5078.0

convfinqa8778

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: approved by the board of directors on april 21 , 2004 and expired on april 30 , 2006 . sources and uses in financing activities during 2005 related primarily to uses for the payment of a dividend ( $ 54.0 million ) and stock repurchase ( $ 26.7 million ) , and a source of cash from the issuance of common shares related to the exercise of employee stock options , the related tax benefit , and the employee stock purchase plan ( $ 9.7 million ) . cash dividends paid to shareholders were $ 162.5 million , $ 107.9 million , and $ 54.0 million during fiscal years 2007 , 2006 , and 2005 , respectively . we believe that our existing cash balances and cash flow from operations will be sufficient to meet our projected capital expenditures , working capital and other cash requirements at least through the end of fiscal 2010 . contractual obligations and commercial commitments future commitments of garmin , as of december 29 , 2007 , aggregated by type of contractual obligation . <table class='wikitable'><tr><td>1</td><td>contractual obligations</td><td>payments due by period total</td><td>payments due by period less than 1 year</td><td>payments due by period 1-3 years</td><td>payments due by period 3-5 years</td><td>payments due by period more than 5 years</td></tr><tr><td>2</td><td>operating leases</td><td>$ 43438</td><td>$ 6581</td><td>$ 11582</td><td>$ 9263</td><td>$ 16012</td></tr><tr><td>3</td><td>purchase obligations</td><td>5078</td><td>422</td><td>2251</td><td>2405</td><td>0</td></tr><tr><td>4</td><td>total</td><td>$ 48516</td><td>$ 7003</td><td>$ 13833</td><td>$ 11668</td><td>$ 16012</td></tr></table> operating leases describes lease obligations associated with garmin facilities located in the u.s. , taiwan , the u.k. , and canada . purchase obligations are the aggregate of those purchase orders that were outstanding on december 29 , 2007 ; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business . off-balance sheet arrangements we do not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosures about market risk market sensitivity we have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials . product pricing and raw materials costs are both significantly influenced by semiconductor market conditions . historically , during cyclical industry downturns , we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs . inflation we do not believe that inflation has had a material effect on our business , financial condition or results of operations . if our costs were to become subject to significant inflationary pressures , we may not be able to fully offset such higher costs through price increases . our inability or failure to do so could adversely affect our business , financial condition and results of operations . foreign currency exchange rate risk the operation of garmin 2019s subsidiaries in international markets results in exposure to movements in currency exchange rates . we generally have not been significantly affected by foreign exchange fluctuations . Conversations: q0: what portion of total obligations are related to operating leases? 0.89533 q1: what is the total purchase obligations as of dec 29, 2007? 5078.0 Question: what about the total contractual oblitations? Answer:

48516.0

convfinqa8779

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: approved by the board of directors on april 21 , 2004 and expired on april 30 , 2006 . sources and uses in financing activities during 2005 related primarily to uses for the payment of a dividend ( $ 54.0 million ) and stock repurchase ( $ 26.7 million ) , and a source of cash from the issuance of common shares related to the exercise of employee stock options , the related tax benefit , and the employee stock purchase plan ( $ 9.7 million ) . cash dividends paid to shareholders were $ 162.5 million , $ 107.9 million , and $ 54.0 million during fiscal years 2007 , 2006 , and 2005 , respectively . we believe that our existing cash balances and cash flow from operations will be sufficient to meet our projected capital expenditures , working capital and other cash requirements at least through the end of fiscal 2010 . contractual obligations and commercial commitments future commitments of garmin , as of december 29 , 2007 , aggregated by type of contractual obligation . <table class='wikitable'><tr><td>1</td><td>contractual obligations</td><td>payments due by period total</td><td>payments due by period less than 1 year</td><td>payments due by period 1-3 years</td><td>payments due by period 3-5 years</td><td>payments due by period more than 5 years</td></tr><tr><td>2</td><td>operating leases</td><td>$ 43438</td><td>$ 6581</td><td>$ 11582</td><td>$ 9263</td><td>$ 16012</td></tr><tr><td>3</td><td>purchase obligations</td><td>5078</td><td>422</td><td>2251</td><td>2405</td><td>0</td></tr><tr><td>4</td><td>total</td><td>$ 48516</td><td>$ 7003</td><td>$ 13833</td><td>$ 11668</td><td>$ 16012</td></tr></table> operating leases describes lease obligations associated with garmin facilities located in the u.s. , taiwan , the u.k. , and canada . purchase obligations are the aggregate of those purchase orders that were outstanding on december 29 , 2007 ; these obligations are created and then paid off within 3 months during the normal course of our manufacturing business . off-balance sheet arrangements we do not have any off-balance sheet arrangements . item 7a . quantitative and qualitative disclosures about market risk market sensitivity we have market risk primarily in connection with the pricing of our products and services and the purchase of raw materials . product pricing and raw materials costs are both significantly influenced by semiconductor market conditions . historically , during cyclical industry downturns , we have been able to offset pricing declines for our products through a combination of improved product mix and success in obtaining price reductions in raw materials costs . inflation we do not believe that inflation has had a material effect on our business , financial condition or results of operations . if our costs were to become subject to significant inflationary pressures , we may not be able to fully offset such higher costs through price increases . our inability or failure to do so could adversely affect our business , financial condition and results of operations . foreign currency exchange rate risk the operation of garmin 2019s subsidiaries in international markets results in exposure to movements in currency exchange rates . we generally have not been significantly affected by foreign exchange fluctuations . Conversations: q0: what portion of total obligations are related to operating leases? 0.89533 q1: what is the total purchase obligations as of dec 29, 2007? 5078.0 q2: what about the total contractual oblitations? 48516.0 Question: what portion is related to purchase obligations? Answer:

0.10467

convfinqa8780

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: altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>individual smoking and health cases ( 2 )</td><td>70</td><td>65</td><td>67</td></tr><tr><td>3</td><td>smoking and health class actions and aggregated claims litigation ( 3 )</td><td>5</td><td>5</td><td>5</td></tr><tr><td>4</td><td>health care cost recovery actions ( 4 )</td><td>1</td><td>1</td><td>1</td></tr><tr><td>5</td><td>201clights/ultra lights 201d class actions</td><td>8</td><td>11</td><td>12</td></tr></table> ( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. . Conversations: Question: how many cases related to smoking are pending as of 12/31/16? Answer:

75.0

convfinqa8781

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: altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>individual smoking and health cases ( 2 )</td><td>70</td><td>65</td><td>67</td></tr><tr><td>3</td><td>smoking and health class actions and aggregated claims litigation ( 3 )</td><td>5</td><td>5</td><td>5</td></tr><tr><td>4</td><td>health care cost recovery actions ( 4 )</td><td>1</td><td>1</td><td>1</td></tr><tr><td>5</td><td>201clights/ultra lights 201d class actions</td><td>8</td><td>11</td><td>12</td></tr></table> ( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. . Conversations: q0: how many cases related to smoking are pending as of 12/31/16? 75.0 Question: what about related to recovery actions? Answer:

1.0

convfinqa8782

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: altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>individual smoking and health cases ( 2 )</td><td>70</td><td>65</td><td>67</td></tr><tr><td>3</td><td>smoking and health class actions and aggregated claims litigation ( 3 )</td><td>5</td><td>5</td><td>5</td></tr><tr><td>4</td><td>health care cost recovery actions ( 4 )</td><td>1</td><td>1</td><td>1</td></tr><tr><td>5</td><td>201clights/ultra lights 201d class actions</td><td>8</td><td>11</td><td>12</td></tr></table> ( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. . Conversations: q0: how many cases related to smoking are pending as of 12/31/16? 75.0 q1: what about related to recovery actions? 1.0 Question: what is the total of these cases? Answer:

76.0

convfinqa8783

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: altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>individual smoking and health cases ( 2 )</td><td>70</td><td>65</td><td>67</td></tr><tr><td>3</td><td>smoking and health class actions and aggregated claims litigation ( 3 )</td><td>5</td><td>5</td><td>5</td></tr><tr><td>4</td><td>health care cost recovery actions ( 4 )</td><td>1</td><td>1</td><td>1</td></tr><tr><td>5</td><td>201clights/ultra lights 201d class actions</td><td>8</td><td>11</td><td>12</td></tr></table> ( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. . Conversations: q0: how many cases related to smoking are pending as of 12/31/16? 75.0 q1: what about related to recovery actions? 1.0 q2: what is the total of these cases? 76.0 Question: what about number of cases pending related to 201clights/ultra lights 201d by the end of 2016? Answer:

8.0

convfinqa8784

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: altria group , inc . and subsidiaries notes to consolidated financial statements _________________________ may not be obtainable in all cases . this risk has been substantially reduced given that 47 states and puerto rico limit the dollar amount of bonds or require no bond at all . as discussed below , however , tobacco litigation plaintiffs have challenged the constitutionality of florida 2019s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well . such challenges may include the applicability of state bond caps in federal court . states , including florida , may also seek to repeal or alter bond cap statutes through legislation . although altria group , inc . cannot predict the outcome of such challenges , it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges . altria group , inc . and its subsidiaries record provisions in the consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated . at the present time , while it is reasonably possible that an unfavorable outcome in a case may occur , except to the extent discussed elsewhere in this note 19 . contingencies : ( i ) management has concluded that it is not probable that a loss has been incurred in any of the pending tobacco-related cases ; ( ii ) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending tobacco-related cases ; and ( iii ) accordingly , management has not provided any amounts in the consolidated financial statements for unfavorable outcomes , if any . litigation defense costs are expensed as incurred . altria group , inc . and its subsidiaries have achieved substantial success in managing litigation . nevertheless , litigation is subject to uncertainty and significant challenges remain . it is possible that the consolidated results of operations , cash flows or financial position of altria group , inc. , or one or more of its subsidiaries , could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation . altria group , inc . and each of its subsidiaries named as a defendant believe , and each has been so advised by counsel handling the respective cases , that it has valid defenses to the litigation pending against it , as well as valid bases for appeal of adverse verdicts . each of the companies has defended , and will continue to defend , vigorously against litigation challenges . however , altria group , inc . and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of altria group , inc . to do so . overview of altria group , inc . and/or pm usa tobacco- related litigation types and number of cases : claims related to tobacco products generally fall within the following categories : ( i ) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs ; ( ii ) smoking and health cases primarily alleging personal injury or seeking court-supervised programs for ongoing medical monitoring and purporting to be brought on behalf of a class of individual plaintiffs , including cases in which the aggregated claims of a number of individual plaintiffs are to be tried in a single proceeding ; ( iii ) health care cost recovery cases brought by governmental ( both domestic and foreign ) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits ; ( iv ) class action suits alleging that the uses of the terms 201clights 201d and 201cultra lights 201d constitute deceptive and unfair trade practices , common law or statutory fraud , unjust enrichment , breach of warranty or violations of the racketeer influenced and corrupt organizations act ( 201crico 201d ) ; and ( v ) other tobacco-related litigation described below . plaintiffs 2019 theories of recovery and the defenses raised in pending smoking and health , health care cost recovery and 201clights/ultra lights 201d cases are discussed below . the table below lists the number of certain tobacco-related cases pending in the united states against pm usa ( 1 ) and , in some instances , altria group , inc . as of december 31 , 2016 , 2015 and 2014: . <table class='wikitable'><tr><td>1</td><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>2</td><td>individual smoking and health cases ( 2 )</td><td>70</td><td>65</td><td>67</td></tr><tr><td>3</td><td>smoking and health class actions and aggregated claims litigation ( 3 )</td><td>5</td><td>5</td><td>5</td></tr><tr><td>4</td><td>health care cost recovery actions ( 4 )</td><td>1</td><td>1</td><td>1</td></tr><tr><td>5</td><td>201clights/ultra lights 201d class actions</td><td>8</td><td>11</td><td>12</td></tr></table> ( 1 ) does not include 25 cases filed on the asbestos docket in the circuit court for baltimore city , maryland , which seek to join pm usa and other cigarette- manufacturing defendants in complaints previously filed against asbestos companies . ( 2 ) does not include 2485 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke ( 201cets 201d ) . the flight attendants allege that they are members of an ets smoking and health class action in florida , which was settled in 1997 ( broin ) . the terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages , but prohibited them from seeking punitive damages . also , does not include individual smoking and health cases brought by or on behalf of plaintiffs in florida state and federal courts following the decertification of the engle case ( discussed below in smoking and health litigation - engle class action ) . ( 3 ) includes as one case the 600 civil actions ( of which 344 were actions against pm usa ) that were to be tried in a single proceeding in west virginia ( in re : tobacco litigation ) . the west virginia supreme court of appeals ruled that the united states constitution did not preclude a trial in two phases in this case . issues related to defendants 2019 conduct and whether punitive damages are permissible were tried in the first phase . trial in the first phase of this case began in april 2013 . in may 2013 , the jury returned a verdict in favor of defendants on the claims for design defect , negligence , failure to warn , breach of warranty , and concealment and declined to find that the defendants 2019 conduct warranted punitive damages . plaintiffs prevailed on their claim that ventilated filter cigarettes should have included use instructions for the period 1964 - 1969 . the second phase will consist of trials to determine liability and compensatory damages . in november 2014 , the west virginia supreme court of appeals affirmed the final judgment . in july 2015 , the trial court entered an order that will result in the entry of final judgment in favor of defendants and against all but 30 plaintiffs who potentially have a claim against one or more defendants that may be pursued in a second phase of trial . the court intends to try the claims of these 30 plaintiffs in six consolidated trials , each with a group of five plaintiffs . the first trial is currently scheduled to begin may 1 , 2018 . dates for the five remaining consolidated trials have not been scheduled . ( 4 ) see health care cost recovery litigation - federal government 2019s lawsuit below. . Conversations: q0: how many cases related to smoking are pending as of 12/31/16? 75.0 q1: what about related to recovery actions? 1.0 q2: what is the total of these cases? 76.0 q3: what about number of cases pending related to 201clights/ultra lights 201d by the end of 2016? 8.0 Question: what is the total of all cases as of the end of 2016? Answer:

84.0

convfinqa8785

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 research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 311</td><td>$ 407</td><td>$ 653</td></tr><tr><td>3</td><td>other income ( expense ) net</td><td>-156 ( 156 )</td><td>-81 ( 81 )</td><td>-33 ( 33 )</td></tr><tr><td>4</td><td>total other income and expense</td><td>$ 155</td><td>$ 326</td><td>$ 620</td></tr></table> . Conversations: Question: what was the total sum of the effective tax rates in the years of 2009 and 2010? Answer:

56.0

convfinqa8786

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 research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 311</td><td>$ 407</td><td>$ 653</td></tr><tr><td>3</td><td>other income ( expense ) net</td><td>-156 ( 156 )</td><td>-81 ( 81 )</td><td>-33 ( 33 )</td></tr><tr><td>4</td><td>total other income and expense</td><td>$ 155</td><td>$ 326</td><td>$ 620</td></tr></table> . Conversations: q0: what was the total sum of the effective tax rates in the years of 2009 and 2010? 56.0 Question: including the year of 2008, what becomes this sum? Answer:

88.0

convfinqa8787

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 research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 311</td><td>$ 407</td><td>$ 653</td></tr><tr><td>3</td><td>other income ( expense ) net</td><td>-156 ( 156 )</td><td>-81 ( 81 )</td><td>-33 ( 33 )</td></tr><tr><td>4</td><td>total other income and expense</td><td>$ 155</td><td>$ 326</td><td>$ 620</td></tr></table> . Conversations: q0: what was the total sum of the effective tax rates in the years of 2009 and 2010? 56.0 q1: including the year of 2008, what becomes this sum? 88.0 Question: and what is the average effective tax rate between the three years? Answer:

29.33333

convfinqa8788

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 research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 311</td><td>$ 407</td><td>$ 653</td></tr><tr><td>3</td><td>other income ( expense ) net</td><td>-156 ( 156 )</td><td>-81 ( 81 )</td><td>-33 ( 33 )</td></tr><tr><td>4</td><td>total other income and expense</td><td>$ 155</td><td>$ 326</td><td>$ 620</td></tr></table> . Conversations: q0: what was the total sum of the effective tax rates in the years of 2009 and 2010? 56.0 q1: including the year of 2008, what becomes this sum? 88.0 q2: and what is the average effective tax rate between the three years? 29.33333 Question: and between the first two years of this period, what was the decline in the total other income and expense? Answer:

294.0

convfinqa8789

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 research and development expense ( 201cr&d 201d ) r&d expense increased 34% ( 34 % ) or $ 449 million to $ 1.8 billion in 2010 compared to 2009 . this increase was due primarily to an increase in headcount and related expenses in the current year to support expanded r&d activities . also contributing to this increase in r&d expense in 2010 was the capitalization in 2009 of software development costs of $ 71 million related to mac os x snow leopard . although total r&d expense increased 34% ( 34 % ) during 2010 , it declined as a percentage of net sales given the 52% ( 52 % ) year-over-year increase in net sales in 2010 . the company continues to believe that focused investments in r&d are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the company 2019s core business strategy . as such , the company expects to make further investments in r&d to remain competitive . r&d expense increased 20% ( 20 % ) or $ 224 million to $ 1.3 billion in 2009 compared to 2008 . this increase was due primarily to an increase in headcount in 2009 to support expanded r&d activities and higher stock-based compensation expenses . additionally , $ 71 million of software development costs were capitalized related to mac os x snow leopard and excluded from r&d expense during 2009 , compared to $ 11 million of software development costs capitalized during 2008 . although total r&d expense increased 20% ( 20 % ) during 2009 , it remained relatively flat as a percentage of net sales given the 14% ( 14 % ) increase in revenue in 2009 . selling , general and administrative expense ( 201csg&a 201d ) sg&a expense increased $ 1.4 billion or 33% ( 33 % ) to $ 5.5 billion in 2010 compared to 2009 . this increase was due primarily to the company 2019s continued expansion of its retail segment , higher spending on marketing and advertising programs , increased stock-based compensation expenses and variable costs associated with the overall growth of the company 2019s net sales . sg&a expenses increased $ 388 million or 10% ( 10 % ) to $ 4.1 billion in 2009 compared to 2008 . this increase was due primarily to the company 2019s continued expansion of its retail segment in both domestic and international markets , higher stock-based compensation expense and higher spending on marketing and advertising . other income and expense other income and expense for the three years ended september 25 , 2010 , are as follows ( in millions ) : total other income and expense decreased $ 171 million or 52% ( 52 % ) to $ 155 million during 2010 compared to $ 326 million and $ 620 million in 2009 and 2008 , respectively . the overall decrease in other income and expense is attributable to the significant declines in interest rates on a year- over-year basis , partially offset by the company 2019s higher cash , cash equivalents and marketable securities balances . the weighted average interest rate earned by the company on its cash , cash equivalents and marketable securities was 0.75% ( 0.75 % ) , 1.43% ( 1.43 % ) and 3.44% ( 3.44 % ) during 2010 , 2009 and 2008 , respectively . additionally the company incurred higher premium expenses on its foreign exchange option contracts , which further reduced the total other income and expense . during 2010 , 2009 and 2008 , the company had no debt outstanding and accordingly did not incur any related interest expense . provision for income taxes the company 2019s effective tax rates were 24% ( 24 % ) , 32% ( 32 % ) and 32% ( 32 % ) for 2010 , 2009 and 2008 , respectively . the company 2019s effective rates for these periods differ from the statutory federal income tax rate of 35% ( 35 % ) due . <table class='wikitable'><tr><td>1</td><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>2</td><td>interest income</td><td>$ 311</td><td>$ 407</td><td>$ 653</td></tr><tr><td>3</td><td>other income ( expense ) net</td><td>-156 ( 156 )</td><td>-81 ( 81 )</td><td>-33 ( 33 )</td></tr><tr><td>4</td><td>total other income and expense</td><td>$ 155</td><td>$ 326</td><td>$ 620</td></tr></table> . Conversations: q0: what was the total sum of the effective tax rates in the years of 2009 and 2010? 56.0 q1: including the year of 2008, what becomes this sum? 88.0 q2: and what is the average effective tax rate between the three years? 29.33333 q3: and between the first two years of this period, what was the decline in the total other income and expense? 294.0 Question: what is this decline as a portion of that total in 2008? Answer:

0.47419

convfinqa8790

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: derivative instruments see quantitative and qualitative disclosures about market risk for a discussion of derivative instruments and associated market risk . dividends to stockholders dividends of $ 0.92 per common share or $ 637 million were paid during 2007 . on january 27 , 2008 , our board of directors declared a dividend of $ 0.24 cents per share on our common stock , payable march 10 , 2008 , to stockholders of record at the close of business on february 20 , 2008 . liquidity and capital resources our main sources of liquidity and capital resources are internally generated cash flow from operations , committed credit facilities and access to both the debt and equity capital markets . our ability to access the debt capital market is supported by our investment grade credit ratings . our senior unsecured debt is currently rated investment grade by standard and poor 2019s corporation , moody 2019s investor services , inc . and fitch ratings with ratings of bbb+ , baa1 , and bbb+ . these ratings were reaffirmed in july 2007 after the western acquisition was announced . because of the alternatives available to us , including internally generated cash flow and potential asset sales , we believe that our short-term and long-term liquidity is adequate to fund operations , including our capital spending programs , stock repurchase program , repayment of debt maturities and any amounts that ultimately may be paid in connection with contingencies . we have a committed $ 3.0 billion revolving credit facility with third-party financial institutions terminating in may 2012 . at december 31 , 2007 , there were no borrowings against this facility and we had no commercial paper outstanding under our u.s . commercial paper program that is backed by this revolving credit facility . on july 26 , 2007 , we filed a universal shelf registration statement with the securities and exchange commission , under which we , as a well-known seasoned issuer , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities . our cash-adjusted debt-to-capital ratio ( total debt-minus-cash to total debt-plus-equity-minus-cash ) was 22 percent at december 31 , 2007 , compared to six percent at year-end 2006 as shown below . this includes $ 498 million of debt that is serviced by united states steel . ( dollars in millions ) 2007 2006 . <table class='wikitable'><tr><td>1</td><td>( dollars in millions )</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>long-term debt due within one year</td><td>$ 1131</td><td>$ 471</td></tr><tr><td>3</td><td>long-term debt</td><td>6084</td><td>3061</td></tr><tr><td>4</td><td>total debt</td><td>$ 7215</td><td>$ 3532</td></tr><tr><td>5</td><td>cash</td><td>$ 1199</td><td>$ 2585</td></tr><tr><td>6</td><td>trusteed funds from revenue bonds ( a )</td><td>$ 744</td><td>$ 2013</td></tr><tr><td>7</td><td>equity</td><td>$ 19223</td><td>$ 14607</td></tr><tr><td>8</td><td>calculation:</td><td></td><td></td></tr><tr><td>9</td><td>total debt</td><td>$ 7215</td><td>$ 3532</td></tr><tr><td>10</td><td>minus cash</td><td>1199</td><td>2585</td></tr><tr><td>11</td><td>minus trusteed funds from revenue bonds</td><td>744</td><td>2013</td></tr><tr><td>12</td><td>total debt minus cash</td><td>5272</td><td>947</td></tr><tr><td>13</td><td>total debt</td><td>7215</td><td>3532</td></tr><tr><td>14</td><td>plus equity</td><td>19223</td><td>14607</td></tr><tr><td>15</td><td>minus cash</td><td>1199</td><td>2585</td></tr><tr><td>16</td><td>minus trusteed funds from revenue bonds</td><td>744</td><td>2013</td></tr><tr><td>17</td><td>total debt plus equity minus cash</td><td>$ 24495</td><td>$ 15554</td></tr><tr><td>18</td><td>cash-adjusted debt-to-capital ratio</td><td>22% ( 22 % )</td><td>6% ( 6 % )</td></tr></table> ( a ) following the issuance of the $ 1.0 billion of revenue bonds by the parish of st . john the baptist , the proceeds were trusteed and will be disbursed to us upon our request for reimbursement of expenditures related to the garyville refinery expansion . the trusteed funds are reflected as other noncurrent assets in the accompanying consolidated balance sheet as of december 31 , 2007. . Conversations: Question: how much is the quarterly dividends per share of 2007? Answer:

0.23

convfinqa8791

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: derivative instruments see quantitative and qualitative disclosures about market risk for a discussion of derivative instruments and associated market risk . dividends to stockholders dividends of $ 0.92 per common share or $ 637 million were paid during 2007 . on january 27 , 2008 , our board of directors declared a dividend of $ 0.24 cents per share on our common stock , payable march 10 , 2008 , to stockholders of record at the close of business on february 20 , 2008 . liquidity and capital resources our main sources of liquidity and capital resources are internally generated cash flow from operations , committed credit facilities and access to both the debt and equity capital markets . our ability to access the debt capital market is supported by our investment grade credit ratings . our senior unsecured debt is currently rated investment grade by standard and poor 2019s corporation , moody 2019s investor services , inc . and fitch ratings with ratings of bbb+ , baa1 , and bbb+ . these ratings were reaffirmed in july 2007 after the western acquisition was announced . because of the alternatives available to us , including internally generated cash flow and potential asset sales , we believe that our short-term and long-term liquidity is adequate to fund operations , including our capital spending programs , stock repurchase program , repayment of debt maturities and any amounts that ultimately may be paid in connection with contingencies . we have a committed $ 3.0 billion revolving credit facility with third-party financial institutions terminating in may 2012 . at december 31 , 2007 , there were no borrowings against this facility and we had no commercial paper outstanding under our u.s . commercial paper program that is backed by this revolving credit facility . on july 26 , 2007 , we filed a universal shelf registration statement with the securities and exchange commission , under which we , as a well-known seasoned issuer , have the ability to issue and sell an indeterminate amount of various types of debt and equity securities . our cash-adjusted debt-to-capital ratio ( total debt-minus-cash to total debt-plus-equity-minus-cash ) was 22 percent at december 31 , 2007 , compared to six percent at year-end 2006 as shown below . this includes $ 498 million of debt that is serviced by united states steel . ( dollars in millions ) 2007 2006 . <table class='wikitable'><tr><td>1</td><td>( dollars in millions )</td><td>2007</td><td>2006</td></tr><tr><td>2</td><td>long-term debt due within one year</td><td>$ 1131</td><td>$ 471</td></tr><tr><td>3</td><td>long-term debt</td><td>6084</td><td>3061</td></tr><tr><td>4</td><td>total debt</td><td>$ 7215</td><td>$ 3532</td></tr><tr><td>5</td><td>cash</td><td>$ 1199</td><td>$ 2585</td></tr><tr><td>6</td><td>trusteed funds from revenue bonds ( a )</td><td>$ 744</td><td>$ 2013</td></tr><tr><td>7</td><td>equity</td><td>$ 19223</td><td>$ 14607</td></tr><tr><td>8</td><td>calculation:</td><td></td><td></td></tr><tr><td>9</td><td>total debt</td><td>$ 7215</td><td>$ 3532</td></tr><tr><td>10</td><td>minus cash</td><td>1199</td><td>2585</td></tr><tr><td>11</td><td>minus trusteed funds from revenue bonds</td><td>744</td><td>2013</td></tr><tr><td>12</td><td>total debt minus cash</td><td>5272</td><td>947</td></tr><tr><td>13</td><td>total debt</td><td>7215</td><td>3532</td></tr><tr><td>14</td><td>plus equity</td><td>19223</td><td>14607</td></tr><tr><td>15</td><td>minus cash</td><td>1199</td><td>2585</td></tr><tr><td>16</td><td>minus trusteed funds from revenue bonds</td><td>744</td><td>2013</td></tr><tr><td>17</td><td>total debt plus equity minus cash</td><td>$ 24495</td><td>$ 15554</td></tr><tr><td>18</td><td>cash-adjusted debt-to-capital ratio</td><td>22% ( 22 % )</td><td>6% ( 6 % )</td></tr></table> ( a ) following the issuance of the $ 1.0 billion of revenue bonds by the parish of st . john the baptist , the proceeds were trusteed and will be disbursed to us upon our request for reimbursement of expenditures related to the garyville refinery expansion . the trusteed funds are reflected as other noncurrent assets in the accompanying consolidated balance sheet as of december 31 , 2007. . Conversations: q0: how much is the quarterly dividends per share of 2007? 0.23 Question: are the quarterly dividends per share of 2008 greater than that of 2007? Answer:

yes

convfinqa8792

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 graph below shows a five-year comparison of the cumulative shareholder return on our common stock with the cumulative total return of the standard & poor 2019s ( s&p ) mid cap 400 index and the russell 1000 index , both of which are published indices . comparison of five-year cumulative total return from december 31 , 2011 to december 31 , 2016 assumes $ 100 invested with reinvestment of dividends period indexed returns . <table class='wikitable'><tr><td>1</td><td>company/index</td><td>baseperiod 12/31/11</td><td>baseperiod 12/31/12</td><td>baseperiod 12/31/13</td><td>baseperiod 12/31/14</td><td>baseperiod 12/31/15</td><td>12/31/16</td></tr><tr><td>2</td><td>a . o . smith corporation</td><td>100.0</td><td>159.5</td><td>275.8</td><td>292.0</td><td>401.0</td><td>501.4</td></tr><tr><td>3</td><td>s&p mid cap 400 index</td><td>100.0</td><td>117.9</td><td>157.4</td><td>172.8</td><td>169.0</td><td>204.1</td></tr><tr><td>4</td><td>russell 1000 index</td><td>100.0</td><td>116.4</td><td>155.0</td><td>175.4</td><td>177.0</td><td>198.4</td></tr></table> 2011 2012 2013 2014 2015 2016 smith ( a o ) corp s&p midcap 400 index russell 1000 index . Conversations: Question: what was the net change in price for a.o. smith corp from 2011 to 2016? Answer:

401.4

convfinqa8793

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 graph below shows a five-year comparison of the cumulative shareholder return on our common stock with the cumulative total return of the standard & poor 2019s ( s&p ) mid cap 400 index and the russell 1000 index , both of which are published indices . comparison of five-year cumulative total return from december 31 , 2011 to december 31 , 2016 assumes $ 100 invested with reinvestment of dividends period indexed returns . <table class='wikitable'><tr><td>1</td><td>company/index</td><td>baseperiod 12/31/11</td><td>baseperiod 12/31/12</td><td>baseperiod 12/31/13</td><td>baseperiod 12/31/14</td><td>baseperiod 12/31/15</td><td>12/31/16</td></tr><tr><td>2</td><td>a . o . smith corporation</td><td>100.0</td><td>159.5</td><td>275.8</td><td>292.0</td><td>401.0</td><td>501.4</td></tr><tr><td>3</td><td>s&p mid cap 400 index</td><td>100.0</td><td>117.9</td><td>157.4</td><td>172.8</td><td>169.0</td><td>204.1</td></tr><tr><td>4</td><td>russell 1000 index</td><td>100.0</td><td>116.4</td><td>155.0</td><td>175.4</td><td>177.0</td><td>198.4</td></tr></table> 2011 2012 2013 2014 2015 2016 smith ( a o ) corp s&p midcap 400 index russell 1000 index . Conversations: q0: what was the net change in price for a.o. smith corp from 2011 to 2016? 401.4 Question: what was the percent change? Answer:

4.014

convfinqa8794

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 graph below shows a five-year comparison of the cumulative shareholder return on our common stock with the cumulative total return of the standard & poor 2019s ( s&p ) mid cap 400 index and the russell 1000 index , both of which are published indices . comparison of five-year cumulative total return from december 31 , 2011 to december 31 , 2016 assumes $ 100 invested with reinvestment of dividends period indexed returns . <table class='wikitable'><tr><td>1</td><td>company/index</td><td>baseperiod 12/31/11</td><td>baseperiod 12/31/12</td><td>baseperiod 12/31/13</td><td>baseperiod 12/31/14</td><td>baseperiod 12/31/15</td><td>12/31/16</td></tr><tr><td>2</td><td>a . o . smith corporation</td><td>100.0</td><td>159.5</td><td>275.8</td><td>292.0</td><td>401.0</td><td>501.4</td></tr><tr><td>3</td><td>s&p mid cap 400 index</td><td>100.0</td><td>117.9</td><td>157.4</td><td>172.8</td><td>169.0</td><td>204.1</td></tr><tr><td>4</td><td>russell 1000 index</td><td>100.0</td><td>116.4</td><td>155.0</td><td>175.4</td><td>177.0</td><td>198.4</td></tr></table> 2011 2012 2013 2014 2015 2016 smith ( a o ) corp s&p midcap 400 index russell 1000 index . Conversations: q0: what was the net change in price for a.o. smith corp from 2011 to 2016? 401.4 q1: what was the percent change? 4.014 Question: what was the value of the s&p midcap index at the end of 2016? Answer:

204.1

convfinqa8795

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 graph below shows a five-year comparison of the cumulative shareholder return on our common stock with the cumulative total return of the standard & poor 2019s ( s&p ) mid cap 400 index and the russell 1000 index , both of which are published indices . comparison of five-year cumulative total return from december 31 , 2011 to december 31 , 2016 assumes $ 100 invested with reinvestment of dividends period indexed returns . <table class='wikitable'><tr><td>1</td><td>company/index</td><td>baseperiod 12/31/11</td><td>baseperiod 12/31/12</td><td>baseperiod 12/31/13</td><td>baseperiod 12/31/14</td><td>baseperiod 12/31/15</td><td>12/31/16</td></tr><tr><td>2</td><td>a . o . smith corporation</td><td>100.0</td><td>159.5</td><td>275.8</td><td>292.0</td><td>401.0</td><td>501.4</td></tr><tr><td>3</td><td>s&p mid cap 400 index</td><td>100.0</td><td>117.9</td><td>157.4</td><td>172.8</td><td>169.0</td><td>204.1</td></tr><tr><td>4</td><td>russell 1000 index</td><td>100.0</td><td>116.4</td><td>155.0</td><td>175.4</td><td>177.0</td><td>198.4</td></tr></table> 2011 2012 2013 2014 2015 2016 smith ( a o ) corp s&p midcap 400 index russell 1000 index . Conversations: q0: what was the net change in price for a.o. smith corp from 2011 to 2016? 401.4 q1: what was the percent change? 4.014 q2: what was the value of the s&p midcap index at the end of 2016? 204.1 Question: what was the net change assuming a $100 initial investment? Answer:

104.1

convfinqa8796

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 graph below shows a five-year comparison of the cumulative shareholder return on our common stock with the cumulative total return of the standard & poor 2019s ( s&p ) mid cap 400 index and the russell 1000 index , both of which are published indices . comparison of five-year cumulative total return from december 31 , 2011 to december 31 , 2016 assumes $ 100 invested with reinvestment of dividends period indexed returns . <table class='wikitable'><tr><td>1</td><td>company/index</td><td>baseperiod 12/31/11</td><td>baseperiod 12/31/12</td><td>baseperiod 12/31/13</td><td>baseperiod 12/31/14</td><td>baseperiod 12/31/15</td><td>12/31/16</td></tr><tr><td>2</td><td>a . o . smith corporation</td><td>100.0</td><td>159.5</td><td>275.8</td><td>292.0</td><td>401.0</td><td>501.4</td></tr><tr><td>3</td><td>s&p mid cap 400 index</td><td>100.0</td><td>117.9</td><td>157.4</td><td>172.8</td><td>169.0</td><td>204.1</td></tr><tr><td>4</td><td>russell 1000 index</td><td>100.0</td><td>116.4</td><td>155.0</td><td>175.4</td><td>177.0</td><td>198.4</td></tr></table> 2011 2012 2013 2014 2015 2016 smith ( a o ) corp s&p midcap 400 index russell 1000 index . Conversations: q0: what was the net change in price for a.o. smith corp from 2011 to 2016? 401.4 q1: what was the percent change? 4.014 q2: what was the value of the s&p midcap index at the end of 2016? 204.1 q3: what was the net change assuming a $100 initial investment? 104.1 Question: what is the percent change? Answer:

1.041

convfinqa8797

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 graph below shows a five-year comparison of the cumulative shareholder return on our common stock with the cumulative total return of the standard & poor 2019s ( s&p ) mid cap 400 index and the russell 1000 index , both of which are published indices . comparison of five-year cumulative total return from december 31 , 2011 to december 31 , 2016 assumes $ 100 invested with reinvestment of dividends period indexed returns . <table class='wikitable'><tr><td>1</td><td>company/index</td><td>baseperiod 12/31/11</td><td>baseperiod 12/31/12</td><td>baseperiod 12/31/13</td><td>baseperiod 12/31/14</td><td>baseperiod 12/31/15</td><td>12/31/16</td></tr><tr><td>2</td><td>a . o . smith corporation</td><td>100.0</td><td>159.5</td><td>275.8</td><td>292.0</td><td>401.0</td><td>501.4</td></tr><tr><td>3</td><td>s&p mid cap 400 index</td><td>100.0</td><td>117.9</td><td>157.4</td><td>172.8</td><td>169.0</td><td>204.1</td></tr><tr><td>4</td><td>russell 1000 index</td><td>100.0</td><td>116.4</td><td>155.0</td><td>175.4</td><td>177.0</td><td>198.4</td></tr></table> 2011 2012 2013 2014 2015 2016 smith ( a o ) corp s&p midcap 400 index russell 1000 index . Conversations: q0: what was the net change in price for a.o. smith corp from 2011 to 2016? 401.4 q1: what was the percent change? 4.014 q2: what was the value of the s&p midcap index at the end of 2016? 204.1 q3: what was the net change assuming a $100 initial investment? 104.1 q4: what is the percent change? 1.041 Question: what is the difference in the percents? Answer:

2.973

convfinqa8798

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: our international networks segment owns and operates the following television networks , which reached the following number of subscribers via pay television services as of december 31 , 2013 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) . <table class='wikitable'><tr><td>1</td><td>global networks discovery channel</td><td>internationalsubscribers ( millions ) 271</td><td>regional networks discovery kids</td><td>internationalsubscribers ( millions ) 76</td></tr><tr><td>2</td><td>animal planet</td><td>200</td><td>sbs nordic ( a )</td><td>28</td></tr><tr><td>3</td><td>tlc real time and travel & living</td><td>162</td><td>dmax ( b )</td><td>16</td></tr><tr><td>4</td><td>discovery science</td><td>81</td><td>discovery history</td><td>14</td></tr><tr><td>5</td><td>investigation discovery</td><td>74</td><td>shed</td><td>12</td></tr><tr><td>6</td><td>discovery home & health</td><td>64</td><td>discovery en espanol ( u.s. )</td><td>5</td></tr><tr><td>7</td><td>turbo</td><td>52</td><td>discovery familia ( u.s. )</td><td>4</td></tr><tr><td>8</td><td>discovery world</td><td>23</td><td>gxt</td><td>4</td></tr></table> ( a ) number of subscribers corresponds to the collective sum of the total number of subscribers to each of the sbs nordic broadcast networks in sweden , norway , and denmark subject to retransmission agreements with pay television providers . ( b ) number of subscribers corresponds to dmax pay television networks in the u.k. , austria , switzerland and ireland . our international networks segment also owns and operates free-to-air television networks which reached 285 million cumulative viewers in europe and the middle east as of december 31 , 2013 . our free-to-air networks include dmax , fatafeat , quest , real time , giallo , frisbee , focus and k2 . similar to u.s . networks , the primary sources of revenue for international networks are fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and advertising sold on our television networks . 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 agreements , and the market demand for the content that we provide . advertising revenue is dependent upon a number of factors including the development of pay and free-to-air 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 group of channels . 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 , we expect that advertising revenue growth will result from continued subscriber and viewership growth , our localization strategy , and the shift of advertising spending from traditional analog networks to channels in the multi-channel environment . in relatively mature markets , such as western europe , growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services , both organic and through acquisitions . during 2013 , distribution , advertising and other revenues were 50% ( 50 % ) , 47% ( 47 % ) and 3% ( 3 % ) , respectively , of total net revenues for this segment . on january 21 , 2014 , we entered into an agreement with tf1 to acquire a controlling interest in eurosport international ( "eurosport" ) , a leading pan-european sports media platform , by increasing our ownership stake from 20% ( 20 % ) to 51% ( 51 % ) for cash of approximately 20ac253 million ( $ 343 million ) subject to working capital adjustments . due to regulatory constraints the acquisition initially excludes eurosport france , a subsidiary of eurosport . we will retain a 20% ( 20 % ) equity interest in eurosport france and a commitment to acquire another 31% ( 31 % ) ownership interest beginning 2015 , contingent upon resolution of all regulatory matters . the flagship eurosport network focuses on regionally popular sports such as tennis , skiing , cycling and motor sports and reaches 133 million homes across 54 countries in 20 languages . eurosport 2019s brands and platforms also include eurosport hd ( high definition simulcast ) , eurosport 2 , eurosport 2 hd ( high definition simulcast ) , eurosport asia-pacific , and eurosportnews . the acquisition is intended to increase the growth of eurosport and enhance our pay television offerings in europe . tf1 will have the right to put the entirety of its remaining 49% ( 49 % ) non-controlling interest to us for approximately two and a half years after completion of this acquisition . the put has a floor value equal to the fair value at the acquisition date if exercised in the 90 day period beginning on july 1 , 2015 and is subsequently priced at fair value if exercised in the 90 day period beginning on july 1 , 2016 . we expect the acquisition to close in the second quarter of 2014 subject to obtaining necessary regulatory approvals. . Conversations: Question: what is the new percentage of ownership stake as of 1/21/14? Answer:

0.51

convfinqa8799

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: our international networks segment owns and operates the following television networks , which reached the following number of subscribers via pay television services as of december 31 , 2013 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) . <table class='wikitable'><tr><td>1</td><td>global networks discovery channel</td><td>internationalsubscribers ( millions ) 271</td><td>regional networks discovery kids</td><td>internationalsubscribers ( millions ) 76</td></tr><tr><td>2</td><td>animal planet</td><td>200</td><td>sbs nordic ( a )</td><td>28</td></tr><tr><td>3</td><td>tlc real time and travel & living</td><td>162</td><td>dmax ( b )</td><td>16</td></tr><tr><td>4</td><td>discovery science</td><td>81</td><td>discovery history</td><td>14</td></tr><tr><td>5</td><td>investigation discovery</td><td>74</td><td>shed</td><td>12</td></tr><tr><td>6</td><td>discovery home & health</td><td>64</td><td>discovery en espanol ( u.s. )</td><td>5</td></tr><tr><td>7</td><td>turbo</td><td>52</td><td>discovery familia ( u.s. )</td><td>4</td></tr><tr><td>8</td><td>discovery world</td><td>23</td><td>gxt</td><td>4</td></tr></table> ( a ) number of subscribers corresponds to the collective sum of the total number of subscribers to each of the sbs nordic broadcast networks in sweden , norway , and denmark subject to retransmission agreements with pay television providers . ( b ) number of subscribers corresponds to dmax pay television networks in the u.k. , austria , switzerland and ireland . our international networks segment also owns and operates free-to-air television networks which reached 285 million cumulative viewers in europe and the middle east as of december 31 , 2013 . our free-to-air networks include dmax , fatafeat , quest , real time , giallo , frisbee , focus and k2 . similar to u.s . networks , the primary sources of revenue for international networks are fees charged to operators who distribute our networks , which primarily include cable and dth satellite service providers , and advertising sold on our television networks . 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 agreements , and the market demand for the content that we provide . advertising revenue is dependent upon a number of factors including the development of pay and free-to-air 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 group of channels . 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 , we expect that advertising revenue growth will result from continued subscriber and viewership growth , our localization strategy , and the shift of advertising spending from traditional analog networks to channels in the multi-channel environment . in relatively mature markets , such as western europe , growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services , both organic and through acquisitions . during 2013 , distribution , advertising and other revenues were 50% ( 50 % ) , 47% ( 47 % ) and 3% ( 3 % ) , respectively , of total net revenues for this segment . on january 21 , 2014 , we entered into an agreement with tf1 to acquire a controlling interest in eurosport international ( "eurosport" ) , a leading pan-european sports media platform , by increasing our ownership stake from 20% ( 20 % ) to 51% ( 51 % ) for cash of approximately 20ac253 million ( $ 343 million ) subject to working capital adjustments . due to regulatory constraints the acquisition initially excludes eurosport france , a subsidiary of eurosport . we will retain a 20% ( 20 % ) equity interest in eurosport france and a commitment to acquire another 31% ( 31 % ) ownership interest beginning 2015 , contingent upon resolution of all regulatory matters . the flagship eurosport network focuses on regionally popular sports such as tennis , skiing , cycling and motor sports and reaches 133 million homes across 54 countries in 20 languages . eurosport 2019s brands and platforms also include eurosport hd ( high definition simulcast ) , eurosport 2 , eurosport 2 hd ( high definition simulcast ) , eurosport asia-pacific , and eurosportnews . the acquisition is intended to increase the growth of eurosport and enhance our pay television offerings in europe . tf1 will have the right to put the entirety of its remaining 49% ( 49 % ) non-controlling interest to us for approximately two and a half years after completion of this acquisition . the put has a floor value equal to the fair value at the acquisition date if exercised in the 90 day period beginning on july 1 , 2015 and is subsequently priced at fair value if exercised in the 90 day period beginning on july 1 , 2016 . we expect the acquisition to close in the second quarter of 2014 subject to obtaining necessary regulatory approvals. . Conversations: q0: what is the new percentage of ownership stake as of 1/21/14? 0.51 Question: and the original ownership stake? Answer:

0.2