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how much of a greater return , in percentage , was gained in the s&p retail index compared to the tractor supply company?
Important information:
table_1: the tractor supply company of 12/28/2013 is $ 100.00 ; the tractor supply company of 12/27/2014 is $ 104.11 ; the tractor supply company of 12/26/2015 is $ 115.45 ; the tractor supply company of 12/31/2016 is $ 103.33 ; the tractor supply company of 12/30/2017 is $ 103.67 ; the tractor supply company of 12/29/2018 is $ 117.18 ;
table_2: the s&p 500 of 12/28/2013 is $ 100.00 ; the s&p 500 of 12/27/2014 is $ 115.76 ; the s&p 500 of 12/26/2015 is $ 116.64 ; the s&p 500 of 12/31/2016 is $ 129.55 ; the s&p 500 of 12/30/2017 is $ 157.84 ; the s&p 500 of 12/29/2018 is $ 149.63 ;
table_3: the s&p retail index of 12/28/2013 is $ 100.00 ; the s&p retail index of 12/27/2014 is $ 111.18 ; the s&p retail index of 12/26/2015 is $ 140.22 ; the s&p retail index of 12/31/2016 is $ 148.53 ; the s&p retail index of 12/30/2017 is $ 193.68 ; the s&p retail index of 12/29/2018 is $ 217.01 ;
Reasoning Steps:
Step: minus1-1(217.01, 100.00) = 117.01
Step: divide1-2(#0, 100.00) = 117%
Step: minus1-3(117.18, 100) = 17.18
Step: divide1-4(#2, 100) = 17.2%
Step: minus1-5(#1, #3) = 99.8%
Program:
subtract(217.01, 100.00), divide(#0, 100.00), subtract(117.18, 100), divide(#2, 100), subtract(#1, #3)
Program (Nested):
subtract(divide(subtract(217.01, 100.00), 100.00), divide(subtract(117.18, 100), 100))
| 0.9983 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933 , as amended , or the exchange act . the following graph compares the cumulative total stockholder return on our common stock from december 28 , 2013 to december 29 , 2018 ( the company 2019s fiscal year-end ) , with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period . the comparison assumes that $ 100 was invested on december 28 , 2013 , in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends . the historical stock price performance shown on this graph is not indicative of future performance. .
Table
| 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017 | 12/29/2018
tractor supply company | $ 100.00 | $ 104.11 | $ 115.45 | $ 103.33 | $ 103.67 | $ 117.18
s&p 500 | $ 100.00 | $ 115.76 | $ 116.64 | $ 129.55 | $ 157.84 | $ 149.63
s&p retail index | $ 100.00 | $ 111.18 | $ 140.22 | $ 148.53 | $ 193.68 | $ 217.01
.
Question:
how much of a greater return , in percentage , was gained in the s&p retail index compared to the tractor supply company?
Important information:
table_1: the tractor supply company of 12/28/2013 is $ 100.00 ; the tractor supply company of 12/27/2014 is $ 104.11 ; the tractor supply company of 12/26/2015 is $ 115.45 ; the tractor supply company of 12/31/2016 is $ 103.33 ; the tractor supply company of 12/30/2017 is $ 103.67 ; the tractor supply company of 12/29/2018 is $ 117.18 ;
table_2: the s&p 500 of 12/28/2013 is $ 100.00 ; the s&p 500 of 12/27/2014 is $ 115.76 ; the s&p 500 of 12/26/2015 is $ 116.64 ; the s&p 500 of 12/31/2016 is $ 129.55 ; the s&p 500 of 12/30/2017 is $ 157.84 ; the s&p 500 of 12/29/2018 is $ 149.63 ;
table_3: the s&p retail index of 12/28/2013 is $ 100.00 ; the s&p retail index of 12/27/2014 is $ 111.18 ; the s&p retail index of 12/26/2015 is $ 140.22 ; the s&p retail index of 12/31/2016 is $ 148.53 ; the s&p retail index of 12/30/2017 is $ 193.68 ; the s&p retail index of 12/29/2018 is $ 217.01 ;
Reasoning Steps:
Step: minus1-1(217.01, 100.00) = 117.01
Step: divide1-2(#0, 100.00) = 117%
Step: minus1-3(117.18, 100) = 17.18
Step: divide1-4(#2, 100) = 17.2%
Step: minus1-5(#1, #3) = 99.8%
Program:
subtract(217.01, 100.00), divide(#0, 100.00), subtract(117.18, 100), divide(#2, 100), subtract(#1, #3)
Program (Nested):
subtract(divide(subtract(217.01, 100.00), 100.00), divide(subtract(117.18, 100), 100))
| finqa555 |
what was the difference in total additions between 2006 and 2007 in millions?
Important information:
text_14: this amount was recorded as a cumulative-effect adjustment to retained earnings as of january 1 , 2006 .
table_1: year ended december 31 ( inmillions ) the balance at beginning of period after valuation allowance of 2007 is $ 7546 ; the balance at beginning of period after valuation allowance of 2006 is $ 6452 ;
table_6: year ended december 31 ( inmillions ) the total additions of 2007 is 3133 ; the total additions of 2006 is 2139 ;
Reasoning Steps:
Step: minus2-1(3133, 2139) = 994
Program:
subtract(3133, 2139)
Program (Nested):
subtract(3133, 2139)
| 994.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
jpmorgan chase & co . / 2007 annual report 155 flows at risk-adjusted rates . the model considers portfolio characteris- tics , contractually specified servicing fees , prepayment assumptions , delinquency rates , late charges , other ancillary revenue and costs to service , and other economic factors . the firm reassesses and periodi- cally adjusts the underlying inputs and assumptions used in the oas model to reflect market conditions and assumptions that a market par- ticipant would consider in valuing the msr asset . during the fourth quarter of the 2007 , the firm 2019s proprietary prepayment model was refined to reflect a decrease in estimated future mortgage prepay- ments based upon a number of market related factors including a downward trend in home prices , general tightening of credit under- writing standards and the associated impact on refinancing activity . the firm compares fair value estimates and assumptions to observable market data where available and to recent market activity and actual portfolio experience . the fair value of msrs is sensitive to changes in interest rates , includ- ing their effect on prepayment speeds . jpmorgan chase uses or has used combinations of derivatives , afs securities and trading instru- ments to manage changes in the fair value of msrs . the intent is to offset any changes in the fair value of msrs with changes in the fair value of the related risk management instruments . msrs decrease in value when interest rates decline . conversely , securities ( such as mort- gage-backed securities ) , principal-only certificates and certain deriva- tives ( when the firm receives fixed-rate interest payments ) increase in value when interest rates decline . in march 2006 , the fasb issued sfas 156 , which permits an entity a one-time irrevocable election to adopt fair value accounting for a class of servicing assets . jpmorgan chase elected to adopt the standard effective january 1 , 2006 , and defined msrs as one class of servicing assets for this election . at the transition date , the fair value of the msrs exceeded their carrying amount , net of any related valuation allowance , by $ 150 million net of taxes . this amount was recorded as a cumulative-effect adjustment to retained earnings as of january 1 , 2006 . msrs are recognized in the consolidated balance sheet at fair value , and changes in their fair value are recorded in current- period earnings . revenue amounts related to msrs and the financial instruments used to manage the risk of msrs are recorded in mortgage fees and related income . for the year ended december 31 , 2005 , msrs were accounted for under sfas 140 , using a lower of cost or fair value approach . under this approach , msrs were amortized as a reduction of the actual servicing income received in proportion to , and over the period of , the estimated future net servicing income stream of the underlying mortgage loans . for purposes of evaluating and measuring impairment of msrs , the firm stratified the portfolio on the basis of the predominant risk characteristics , which are loan type and interest rate . any indicated impairment was rec- ognized as a reduction in revenue through a valuation allowance , which represented the extent to which the carrying value of an individual stra- tum exceeded its estimated fair value . any gross carrying value and relat- ed valuation allowance amounts which were not expected to be recov- ered in the foreseeable future , based upon the interest rate scenario , were considered to be other-than-temporary . prior to the adoption of sfas 156 , the firm designated certain deriva- tives used to risk manage msrs ( e.g. , a combination of swaps , swap- tions and floors ) as sfas 133 fair value hedges of benchmark interest rate risk . sfas 133 hedge accounting allowed the carrying value of the hedged msrs to be adjusted through earnings in the same period that the change in value of the hedging derivatives was recognized through earnings . the designated hedge period was daily . in designat- ing the benchmark interest rate , the firm considered the impact that the change in the benchmark rate had on the prepayment speed esti- mates in determining the fair value of the msrs . hedge effectiveness was assessed using a regression analysis of the change in fair value of the msrs as a result of changes in benchmark interest rates and of the change in the fair value of the designated derivatives . the valua- tion adjustments to both the msrs and sfas 133 derivatives were recorded in mortgage fees and related income . with the election to apply fair value accounting to the msrs under sfas 156 , sfas 133 hedge accounting is no longer necessary . for a further discussion on derivative instruments and hedging activities , see note 30 on pages 168 2013169 of this annual report . the following table summarizes msr activity , certain key assumptions , and the sensitivity of the fair value of msrs to adverse changes in those key assumptions for the years ended december 31 , 2007 and 2006 , during which period msrs were accounted for under sfas year ended december 31 , ( in millions ) 2007 2006 .
Table
year ended december 31 ( inmillions ) | 2007 | 2006
balance at beginning of period after valuation allowance | $ 7546 | $ 6452
cumulative effect of change in accounting principle | 2014 | 230
fair value at beginning of period | 7546 | 6682
originations of msrs | 2335 | 1512
purchase of msrs | 798 | 627
total additions | 3133 | 2139
change in valuation due to inputs and assumptions ( a ) | -516 ( 516 ) | 165
other changes in fair value ( b ) | -1531 ( 1531 ) | -1440 ( 1440 )
total change in fair value | -2047 ( 2047 ) | -1275 ( 1275 )
fair value at december 31 | $ 8632 | $ 7546
change in unrealized ( losses ) gains included in income related to msrs held at december 31 | $ -516 ( 516 ) | na
change in unrealized ( losses ) gains included in income related to msrs held at december 31 $ ( 516 ) na ( a ) represents msr asset fair value adjustments due to changes in market-based inputs , such as interest rates and volatility , as well as updates to assumptions used in the msr valuation model . this caption also represents total realized and unrealized gains ( losses ) included in net income per the sfas 157 disclosure for fair value measurement using significant unobservable inputs ( level 3 ) . these changes in fair value are recorded in mortgage fees and related income . ( b ) includes changes in the msr value due to modeled servicing portfolio runoff ( or time decay ) . this caption represents the impact of cash settlements per the sfas 157 disclosure for fair value measurement using significant unobservable inputs ( level 3 ) . these changes in fair value are recorded in mortgage fees and related income. .
Question:
what was the difference in total additions between 2006 and 2007 in millions?
Important information:
text_14: this amount was recorded as a cumulative-effect adjustment to retained earnings as of january 1 , 2006 .
table_1: year ended december 31 ( inmillions ) the balance at beginning of period after valuation allowance of 2007 is $ 7546 ; the balance at beginning of period after valuation allowance of 2006 is $ 6452 ;
table_6: year ended december 31 ( inmillions ) the total additions of 2007 is 3133 ; the total additions of 2006 is 2139 ;
Reasoning Steps:
Step: minus2-1(3133, 2139) = 994
Program:
subtract(3133, 2139)
Program (Nested):
subtract(3133, 2139)
| finqa556 |
what is the net change in the number of staff in 2015?
Important information:
table_3: $ in millions the market development of year ended december 2016 is 457 ; the market development of year ended december 2015 is 557 ; the market development of year ended december 2014 is 549 ;
table_6: $ in millions the occupancy of year ended december 2016 is 788 ; the occupancy of year ended december 2015 is 772 ; the occupancy of year ended december 2014 is 827 ;
table_11: $ in millions the total staff at period-end of year ended december 2016 is 34400 ; the total staff at period-end of year ended december 2015 is 36800 ; the total staff at period-end of year ended december 2014 is 34000 ;
Reasoning Steps:
Step: minus2-1(36800, 34000) = 2800
Program:
subtract(36800, 34000)
Program (Nested):
subtract(36800, 34000)
| 2800.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the goldman sachs group , inc . and subsidiaries management 2019s discussion and analysis non-interest revenues . investment banking revenues in the consolidated statements of earnings were $ 7.03 billion for 2015 , 9% ( 9 % ) higher than 2014 , due to significantly higher revenues in financial advisory , reflecting strong client activity , particularly in the u.s . industry-wide completed mergers and acquisitions increased significantly compared with the prior year . revenues in underwriting were lower compared with a strong 2014 . revenues in debt underwriting were lower compared with 2014 , reflecting significantly lower leveraged finance activity . revenues in equity underwriting were also lower , reflecting significantly lower revenues from initial public offerings and convertible offerings , partially offset by significantly higher revenues from secondary offerings . investment management revenues in the consolidated statements of earnings were $ 5.87 billion for 2015 , 2% ( 2 % ) higher than 2014 , due to slightly higher management and other fees , primarily reflecting higher average assets under supervision , and higher transaction revenues . commissions and fees in the consolidated statements of earnings were $ 3.32 billion for 2015 , essentially unchanged compared with 2014 . market-making revenues in the consolidated statements of earnings were $ 9.52 billion for 2015 , 14% ( 14 % ) higher than 2014 . excluding a gain of $ 289 million in 2014 related to the extinguishment of certain of our junior subordinated debt , market-making revenues were 18% ( 18 % ) higher than 2014 , reflecting significantly higher revenues in interest rate products , currencies , equity cash products and equity derivatives . these increases were partially offset by significantly lower revenues in mortgages , commodities and credit products . other principal transactions revenues in the consolidated statements of earnings were $ 5.02 billion for 2015 , 24% ( 24 % ) lower than 2014 . this decrease was primarily due to lower revenues from investments in equities , principally reflecting the sale of metro international trade services ( metro ) in the fourth quarter of 2014 and lower net gains from investments in private equities , driven by corporate performance . in addition , revenues in debt securities and loans were significantly lower , reflecting lower net gains from investments . net interest income . net interest income in the consolidated statements of earnings was $ 3.06 billion for 2015 , 24% ( 24 % ) lower than 2014 . the decrease compared with 2014 was due to lower interest income resulting from a reduction in interest income related to financial instruments owned , at fair value , partially offset by the impact of an increase in total average loans receivable . the decrease in interest income was partially offset by a decrease in interest expense , which primarily reflected lower interest expense related to financial instruments sold , but not yet purchased , at fair value and other interest-bearing liabilities , partially offset by higher interest expense related to long-term borrowings . see 201csupplemental financial information 2014 statistical disclosures 2014 distribution of assets , liabilities and shareholders 2019 equity 201d for further information about our sources of net interest income . operating expenses our operating expenses are primarily influenced by compensation , headcount and levels of business activity . compensation and benefits includes salaries , discretionary compensation , amortization of equity awards and other items such as benefits . discretionary compensation is significantly impacted by , among other factors , the level of net revenues , overall financial performance , prevailing labor markets , business mix , the structure of our share- based compensation programs and the external environment . in addition , see 201cuse of estimates 201d for additional information about expenses that may arise from litigation and regulatory proceedings . in the context of the challenging environment during the first half of 2016 , we completed an initiative that identified areas where we can operate more efficiently , resulting in a reduction of approximately $ 900 million in annual run rate compensation . for 2016 , net savings from this initiative , after severance and other related costs , were approximately $ 500 million . the table below presents our operating expenses and total staff ( which includes employees , consultants and temporary staff ) . .
Table
$ in millions | year ended december 2016 | year ended december 2015 | year ended december 2014
compensation and benefits | $ 11647 | $ 12678 | $ 12691
brokerage clearing exchange anddistribution fees | 2555 | 2576 | 2501
market development | 457 | 557 | 549
communications and technology | 809 | 806 | 779
depreciation and amortization | 998 | 991 | 1337
occupancy | 788 | 772 | 827
professional fees | 882 | 963 | 902
other expenses | 2168 | 5699 | 2585
total non-compensation expenses | 8657 | 12364 | 9480
total operating expenses | $ 20304 | $ 25042 | $ 22171
total staff at period-end | 34400 | 36800 | 34000
56 goldman sachs 2016 form 10-k .
Question:
what is the net change in the number of staff in 2015?
Important information:
table_3: $ in millions the market development of year ended december 2016 is 457 ; the market development of year ended december 2015 is 557 ; the market development of year ended december 2014 is 549 ;
table_6: $ in millions the occupancy of year ended december 2016 is 788 ; the occupancy of year ended december 2015 is 772 ; the occupancy of year ended december 2014 is 827 ;
table_11: $ in millions the total staff at period-end of year ended december 2016 is 34400 ; the total staff at period-end of year ended december 2015 is 36800 ; the total staff at period-end of year ended december 2014 is 34000 ;
Reasoning Steps:
Step: minus2-1(36800, 34000) = 2800
Program:
subtract(36800, 34000)
Program (Nested):
subtract(36800, 34000)
| finqa557 |
what was the ratio of the acquisition related costs recognized in 2015 to 2014
Important information:
text_5: the company recognized $ 0.6 million and $ 0.8 million in acquisition related costs that were expensed during the three months ended march 31 , 2015 and december 31 , 2014 , respectively .
text_6: these costs are included in the consolidated statements of income in the line item entitled 201cselling , general and administrative expenses . 201d pro forma results are not presented , as the acquisition was not considered material to the consolidated company .
text_10: the acquisition was funded with $ 400.0 million of increased term loan borrowings and a draw on the revolving credit facility , with the remaining amount funded by cash on the company recognized $ 5.7 million of acquisition related costs that were expensed during the three months ended march 31 , 2015 .
Reasoning Steps:
Step: divide2-1(0.6, 0.8) = 0.75
Program:
divide(0.6, 0.8)
Program (Nested):
divide(0.6, 0.8)
| 0.75 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
simplify the presentation of deferred income taxes and reduce complexity without decreasing the usefulness of information provided to users of financial statements . the adoption of this pronouncement did not have a significant impact on the company 2019s financial position , results of operations and cash flows . 3 . acquisitions endomondo on january 5 , 2015 , the company acquired 100% ( 100 % ) of the outstanding equity of endomondo , a denmark- based digital connected fitness company , to expand the under armour connected fitness community . the purchase price was $ 85.0 million , adjusted for working capital . the company recognized $ 0.6 million and $ 0.8 million in acquisition related costs that were expensed during the three months ended march 31 , 2015 and december 31 , 2014 , respectively . these costs are included in the consolidated statements of income in the line item entitled 201cselling , general and administrative expenses . 201d pro forma results are not presented , as the acquisition was not considered material to the consolidated company . myfitnesspal on march 17 , 2015 , the company acquired 100% ( 100 % ) of the outstanding equity of mfp , a digital nutrition and connected fitness company , to expand the under armour connected fitness community . the final adjusted transaction value totaled $ 474.0 million . the total consideration of $ 463.9 million was adjusted to reflect the accelerated vesting of certain share awards of mfp , which are not conditioned upon continued employment , and transaction costs borne by the selling shareholders . the acquisition was funded with $ 400.0 million of increased term loan borrowings and a draw on the revolving credit facility , with the remaining amount funded by cash on the company recognized $ 5.7 million of acquisition related costs that were expensed during the three months ended march 31 , 2015 . these costs are included in the consolidated statement of income in the line item entitled 201cselling , general and administrative expenses . 201d the following represents the pro forma consolidated income statement as if mfp had been included in the consolidated results of the company for the year ended december 31 , 2015 and december 31 , 2014: .
Table
( in thousands ) | year ended december 31 , 2015 | year ended december 31 , 2014
net revenues | $ 3967008 | $ 3098341
net income | 231277 | 189659
these amounts have been calculated after applying the company 2019s accounting policies and adjusting the results of mfp to reflect the acquisition as if it closed on january 1 , 2014 . pro forma net income for the year ended december 31 , 2014 includes $ 5.7 million in transaction expenses which were included in the consolidated statement of income for the year ended december 31 , 2015 , but excluded from the calculation of pro forma net income for december 31 , 2015. .
Question:
what was the ratio of the acquisition related costs recognized in 2015 to 2014
Important information:
text_5: the company recognized $ 0.6 million and $ 0.8 million in acquisition related costs that were expensed during the three months ended march 31 , 2015 and december 31 , 2014 , respectively .
text_6: these costs are included in the consolidated statements of income in the line item entitled 201cselling , general and administrative expenses . 201d pro forma results are not presented , as the acquisition was not considered material to the consolidated company .
text_10: the acquisition was funded with $ 400.0 million of increased term loan borrowings and a draw on the revolving credit facility , with the remaining amount funded by cash on the company recognized $ 5.7 million of acquisition related costs that were expensed during the three months ended march 31 , 2015 .
Reasoning Steps:
Step: divide2-1(0.6, 0.8) = 0.75
Program:
divide(0.6, 0.8)
Program (Nested):
divide(0.6, 0.8)
| finqa558 |
what is the percentage change in average of investments from 2014 to 2015?
Important information:
table_1: ( dollars in millions ) the 2015 of december 31 , average investments ( 1 ) is $ 17430.8 ; the 2015 of december 31 , pre-tax investment income ( 2 ) is $ 473.8 ; the 2015 of december 31 , pre-tax effective yield is 2.72% ( 2.72 % ) ; the 2015 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is $ -184.1 ( 184.1 ) ; the 2015 of december 31 , pre-tax unrealized net capital gains ( losses ) is $ -194.0 ( 194.0 ) ;
table_2: ( dollars in millions ) the 2014 of december 31 , average investments ( 1 ) is 16831.9 ; the 2014 of december 31 , pre-tax investment income ( 2 ) is 530.6 ; the 2014 of december 31 , pre-tax effective yield is 3.15% ( 3.15 % ) ; the 2014 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 84.0 ; the 2014 of december 31 , pre-tax unrealized net capital gains ( losses ) is 20.3 ;
table_3: ( dollars in millions ) the 2013 of december 31 , average investments ( 1 ) is 16472.5 ; the 2013 of december 31 , pre-tax investment income ( 2 ) is 548.5 ; the 2013 of december 31 , pre-tax effective yield is 3.33% ( 3.33 % ) ; the 2013 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 300.2 ; the 2013 of december 31 , pre-tax unrealized net capital gains ( losses ) is -467.2 ( 467.2 ) ;
Reasoning Steps:
Step: minus1-1(17430.8, 16831.9) = 598.9
Step: divide1-2(#0, 16831.9) = 3.6%
Program:
subtract(17430.8, 16831.9), divide(#0, 16831.9)
Program (Nested):
divide(subtract(17430.8, 16831.9), 16831.9)
| 0.03558 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the company had net realized capital losses for 2015 of $ 184.1 million . in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities . in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities . in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities . the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets . the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years . as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized . the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million . cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) . furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s . the following table reflects investment results for the company for the periods indicated: .
Table
( dollars in millions ) | december 31 , average investments ( 1 ) | december 31 , pre-tax investment income ( 2 ) | december 31 , pre-tax effective yield | december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) | december 31 , pre-tax unrealized net capital gains ( losses )
2015 | $ 17430.8 | $ 473.8 | 2.72% ( 2.72 % ) | $ -184.1 ( 184.1 ) | $ -194.0 ( 194.0 )
2014 | 16831.9 | 530.6 | 3.15% ( 3.15 % ) | 84.0 | 20.3
2013 | 16472.5 | 548.5 | 3.33% ( 3.33 % ) | 300.2 | -467.2 ( 467.2 )
2012 | 16220.9 | 600.2 | 3.70% ( 3.70 % ) | 164.4 | 161.0
2011 | 15680.9 | 620.0 | 3.95% ( 3.95 % ) | 6.9 | 106.6
pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash . bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value . common stock which are actively managed are carried at fair value . ( 2 ) after investment expenses , excluding realized net capital gains ( losses ) . ( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .
Question:
what is the percentage change in average of investments from 2014 to 2015?
Important information:
table_1: ( dollars in millions ) the 2015 of december 31 , average investments ( 1 ) is $ 17430.8 ; the 2015 of december 31 , pre-tax investment income ( 2 ) is $ 473.8 ; the 2015 of december 31 , pre-tax effective yield is 2.72% ( 2.72 % ) ; the 2015 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is $ -184.1 ( 184.1 ) ; the 2015 of december 31 , pre-tax unrealized net capital gains ( losses ) is $ -194.0 ( 194.0 ) ;
table_2: ( dollars in millions ) the 2014 of december 31 , average investments ( 1 ) is 16831.9 ; the 2014 of december 31 , pre-tax investment income ( 2 ) is 530.6 ; the 2014 of december 31 , pre-tax effective yield is 3.15% ( 3.15 % ) ; the 2014 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 84.0 ; the 2014 of december 31 , pre-tax unrealized net capital gains ( losses ) is 20.3 ;
table_3: ( dollars in millions ) the 2013 of december 31 , average investments ( 1 ) is 16472.5 ; the 2013 of december 31 , pre-tax investment income ( 2 ) is 548.5 ; the 2013 of december 31 , pre-tax effective yield is 3.33% ( 3.33 % ) ; the 2013 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 300.2 ; the 2013 of december 31 , pre-tax unrealized net capital gains ( losses ) is -467.2 ( 467.2 ) ;
Reasoning Steps:
Step: minus1-1(17430.8, 16831.9) = 598.9
Step: divide1-2(#0, 16831.9) = 3.6%
Program:
subtract(17430.8, 16831.9), divide(#0, 16831.9)
Program (Nested):
divide(subtract(17430.8, 16831.9), 16831.9)
| finqa559 |
what is the average payment volume per transaction for jcb?
Important information:
text_43: $ 2457 $ 3822 50.3 1592 .
table_1: company the visa inc. ( 1 ) of payments volume ( billions ) is $ 2457 ; the visa inc. ( 1 ) of total volume ( billions ) is $ 3822 ; the visa inc. ( 1 ) of total transactions ( billions ) is 50.3 ; the visa inc. ( 1 ) of cards ( millions ) is 1592 ;
table_5: company the jcb of payments volume ( billions ) is 55 ; the jcb of total volume ( billions ) is 61 ; the jcb of total transactions ( billions ) is 0.6 ; the jcb of cards ( millions ) is 58 ;
Reasoning Steps:
Step: divide2-1(55, 0.6) = 91.67
Program:
divide(55, 0.6)
Program (Nested):
divide(55, 0.6)
| 91.66667 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
largest operators of open-loop and closed-loop retail electronic payments networks the largest operators of open-loop and closed-loop retail electronic payments networks are visa , mastercard , american express , discover , jcb and diners club . with the exception of discover , which primarily operates in the united states , all of the other network operators can be considered multi- national or global providers of payments network services . based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world . the following chart compares our network with those of our major competitors for calendar year 2007 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2457 $ 3822 50.3 1592 .
Table
company | payments volume ( billions ) | total volume ( billions ) | total transactions ( billions ) | cards ( millions )
visa inc. ( 1 ) | $ 2457 | $ 3822 | 50.3 | 1592
mastercard | 1697 | 2276 | 27.0 | 916
american express | 637 | 647 | 5.0 | 86
discover | 102 | 119 | 1.6 | 57
jcb | 55 | 61 | 0.6 | 58
diners club | 29 | 30 | 0.2 | 7
( 1 ) visa inc . figures as reported previously in our filings . source : the nilson report , issue 902 ( may 2008 ) and issue 903 ( may 2008 ) . note : visa inc . figures exclude visa europe . figures for competitors include their respective european operations . visa figures include visa , visa electron , and interlink brands . visa cards include plus proprietary cards , but proprietary plus cash volume is not included . domestic china figures are excluded . mastercard figures include pin-based debit card figures on mastercard cards , but not maestro or cirrus figures . china commercial funds transfers are excluded . american express and discover include business from third-party issuers . jcb figures are for april 2006 through march 2007 , but cards and outlets are as of september 2007 . jcb total transaction figures are estimates . our primary operations we generate revenue from the transaction processing services we offer to our customers . our customers deliver visa products and payment services to consumers and merchants based on the product platforms we define and manage . payments network management is a core part of our operations , as it ensures that our payments system provides a safe , efficient , consistent , and interoperable service to cardholders , merchants , and financial institutions worldwide . transaction processing services core processing services our core processing services involve the routing of payment information and related data to facilitate the authorization , clearing and settlement of transactions between visa issuers , which are the financial institutions that issue visa cards to cardholders , and acquirers , which are the financial institutions that offer visa network connectivity and payments acceptance services to merchants . in addition , we offer a range of value-added processing services to support our customers 2019 visa programs and to promote the growth and security of the visa payments network . authorization is the process of approving or declining a transaction before a purchase is finalized or cash is disbursed . clearing is the process of delivering final transaction data from an acquirer to an issuer for posting to the cardholder 2019s account , the calculation of certain fees and charges that apply to the issuer and acquirer involved in the transaction , and the conversion of transaction amounts to the .
Question:
what is the average payment volume per transaction for jcb?
Important information:
text_43: $ 2457 $ 3822 50.3 1592 .
table_1: company the visa inc. ( 1 ) of payments volume ( billions ) is $ 2457 ; the visa inc. ( 1 ) of total volume ( billions ) is $ 3822 ; the visa inc. ( 1 ) of total transactions ( billions ) is 50.3 ; the visa inc. ( 1 ) of cards ( millions ) is 1592 ;
table_5: company the jcb of payments volume ( billions ) is 55 ; the jcb of total volume ( billions ) is 61 ; the jcb of total transactions ( billions ) is 0.6 ; the jcb of cards ( millions ) is 58 ;
Reasoning Steps:
Step: divide2-1(55, 0.6) = 91.67
Program:
divide(55, 0.6)
Program (Nested):
divide(55, 0.6)
| finqa560 |
what is the lowest segment operating income margin?
Important information:
table_1: years ended december 31, the segment revenue of 2009 is $ 1267 ; the segment revenue of 2008 is $ 1356 ; the segment revenue of 2007 is $ 1345 ;
table_2: years ended december 31, the segment operating income of 2009 is 203 ; the segment operating income of 2008 is 208 ; the segment operating income of 2007 is 180 ;
table_3: years ended december 31, the segment operating income margin of 2009 is 16.0% ( 16.0 % ) ; the segment operating income margin of 2008 is 15.3% ( 15.3 % ) ; the segment operating income margin of 2007 is 13.4% ( 13.4 % ) ;
Reasoning Steps:
Step: min2-1(segment operating income margin, none) = 13.4%
Program:
table_min(segment operating income margin, none)
Program (Nested):
table_min(segment operating income margin, none)
| 0.134 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
of exiting a business in japan , economic weakness in asia and political unrest in thailand , partially offset by growth in new zealand and certain emerging markets . reinsurance commissions , fees and other revenue increased 48% ( 48 % ) , due mainly to the benfield merger , partially offset by unfavorable foreign currency translation . organic revenue is even with 2008 , as growth in domestic treaty business and slightly higher pricing was offset by greater client retention , and declines in investment banking and facultative placements . operating income operating income increased $ 54 million or 6% ( 6 % ) from 2008 to $ 900 million in 2009 . in 2009 , operating income margins in this segment were 14.3% ( 14.3 % ) , up 60 basis points from 13.7% ( 13.7 % ) in 2008 . contributing to increased operating income and margins were the merger with benfield , lower e&o costs due to insurance recoveries , a pension curtailment gain of $ 54 million in 2009 versus a curtailment loss of $ 6 million in 2008 , declines in anti-corruption and compliance initiative costs of $ 35 million , restructuring savings , and other cost savings initiatives . these items were partially offset by an increase of $ 140 million in restructuring costs , $ 95 million of lower fiduciary investment income , benfield integration costs and higher amortization of intangible assets obtained in the merger , and unfavorable foreign currency translation . consulting .
Table
years ended december 31, | 2009 | 2008 | 2007
segment revenue | $ 1267 | $ 1356 | $ 1345
segment operating income | 203 | 208 | 180
segment operating income margin | 16.0% ( 16.0 % ) | 15.3% ( 15.3 % ) | 13.4% ( 13.4 % )
our consulting segment generated 17% ( 17 % ) of our consolidated total revenues in 2009 and provides a broad range of human capital consulting services , as follows : consulting services : 1 . health and benefits advises clients about how to structure , fund , and administer employee benefit programs that attract , retain , and motivate employees . benefits consulting include health and welfare , executive benefits , workforce strategies and productivity , absence management , benefits administration , data-driven health , compliance , employee commitment , investment advisory and elective benefits services . 2 . retirement specializes in global actuarial services , defined contribution consulting , investment consulting , tax and erisa consulting , and pension administration . 3 . compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries . 4 . strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management . outsourcing offers employment processing , performance improvement , benefits administration and other employment-related services . beginning in late 2008 and continuing throughout 2009 , the disruption in the global credit markets and the deterioration of the financial markets has created significant uncertainty in the marketplace . the prolonged economic downturn is adversely impacting our clients 2019 financial condition and the levels of business activities in the industries and geographies where we operate . while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and depressing the price of those services , which is having an adverse effect on our new business and results of operations. .
Question:
what is the lowest segment operating income margin?
Important information:
table_1: years ended december 31, the segment revenue of 2009 is $ 1267 ; the segment revenue of 2008 is $ 1356 ; the segment revenue of 2007 is $ 1345 ;
table_2: years ended december 31, the segment operating income of 2009 is 203 ; the segment operating income of 2008 is 208 ; the segment operating income of 2007 is 180 ;
table_3: years ended december 31, the segment operating income margin of 2009 is 16.0% ( 16.0 % ) ; the segment operating income margin of 2008 is 15.3% ( 15.3 % ) ; the segment operating income margin of 2007 is 13.4% ( 13.4 % ) ;
Reasoning Steps:
Step: min2-1(segment operating income margin, none) = 13.4%
Program:
table_min(segment operating income margin, none)
Program (Nested):
table_min(segment operating income margin, none)
| finqa561 |
what is the percent change in quarterly cash dividend for the period ended march 31 2002 to the period ended december 31 2002?
Important information:
text_3: on january 29 , 2003 , the company declared a quarterly cash dividend of $ .455 per share , payable on february 28 , 2003 , to common shareholders of record on february 14 , 2003. .
table_1: quarter ended the december 31 of 2002 high is $ 25.84 ; the december 31 of 2002 low is $ 21.50 ; the december 31 of 2002 dividend is $ .455 ; the december 31 of 2002 high is $ 24.80 ; the december 31 of 2002 low is $ 22.00 ; the december 31 of dividend is $ .45 ;
table_4: quarter ended the march 31 of 2002 high is 26.50 ; the march 31 of 2002 low is 22.92 ; the march 31 of 2002 dividend is .450 ; the march 31 of 2002 high is 25.44 ; the march 31 of 2002 low is 21.85 ; the march 31 of dividend is .43 ;
Reasoning Steps:
Step: minus2-1(.455, .450) = .005
Step: divide2-2(#0, .450) = .0111
Step: multiply2-3(#1, const_100) = 1.11%
Program:
subtract(.455, .450), divide(#0, .450), multiply(#1, const_100)
Program (Nested):
multiply(divide(subtract(.455, .450), .450), const_100)
| 1.11111 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
market price and dividends d u k e r e a l t y c o r p o r a t i o n 3 8 2 0 0 2 a n n u a l r e p o r t the company 2019s common shares are listed for trading on the new york stock exchange , symbol dre . the following table sets forth the high and low sales prices of the common stock for the periods indicated and the dividend paid per share during each such period . comparable cash dividends are expected in the future . on january 29 , 2003 , the company declared a quarterly cash dividend of $ .455 per share , payable on february 28 , 2003 , to common shareholders of record on february 14 , 2003. .
Table
quarter ended | 2002 high | 2002 low | 2002 dividend | 2002 high | 2002 low | dividend
december 31 | $ 25.84 | $ 21.50 | $ .455 | $ 24.80 | $ 22.00 | $ .45
september 30 | 28.88 | 21.40 | .455 | 26.17 | 21.60 | .45
june 30 | 28.95 | 25.46 | .450 | 24.99 | 22.00 | .43
march 31 | 26.50 | 22.92 | .450 | 25.44 | 21.85 | .43
.
Question:
what is the percent change in quarterly cash dividend for the period ended march 31 2002 to the period ended december 31 2002?
Important information:
text_3: on january 29 , 2003 , the company declared a quarterly cash dividend of $ .455 per share , payable on february 28 , 2003 , to common shareholders of record on february 14 , 2003. .
table_1: quarter ended the december 31 of 2002 high is $ 25.84 ; the december 31 of 2002 low is $ 21.50 ; the december 31 of 2002 dividend is $ .455 ; the december 31 of 2002 high is $ 24.80 ; the december 31 of 2002 low is $ 22.00 ; the december 31 of dividend is $ .45 ;
table_4: quarter ended the march 31 of 2002 high is 26.50 ; the march 31 of 2002 low is 22.92 ; the march 31 of 2002 dividend is .450 ; the march 31 of 2002 high is 25.44 ; the march 31 of 2002 low is 21.85 ; the march 31 of dividend is .43 ;
Reasoning Steps:
Step: minus2-1(.455, .450) = .005
Step: divide2-2(#0, .450) = .0111
Step: multiply2-3(#1, const_100) = 1.11%
Program:
subtract(.455, .450), divide(#0, .450), multiply(#1, const_100)
Program (Nested):
multiply(divide(subtract(.455, .450), .450), const_100)
| finqa562 |
considering the year 2016 , what is the short-term debt as a percent of total debt?
Important information:
table_3: 30 september the long-term debt of 2016 is 4918.1 ; the long-term debt of 2015 is 3949.1 ;
table_4: 30 september the total debt of 2016 is $ 6225.2 ; the total debt of 2015 is $ 5879.0 ;
table_9: 30 september the total short-term borrowings of 2016 is $ 935.8 ; the total short-term borrowings of 2015 is $ 1494.3 ;
Reasoning Steps:
Step: add2-1(935.8, 371.3) = 1307.1
Step: divide2-2(#0, 6225.2) = 21%
Program:
add(935.8, 371.3), divide(#0, 6225.2)
Program (Nested):
divide(add(935.8, 371.3), 6225.2)
| 0.20997 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
15 . debt the tables below summarize our outstanding debt at 30 september 2016 and 2015 : total debt .
Table
30 september | 2016 | 2015
short-term borrowings | $ 935.8 | $ 1494.3
current portion of long-term debt | 371.3 | 435.6
long-term debt | 4918.1 | 3949.1
total debt | $ 6225.2 | $ 5879.0
short-term borrowings | |
30 september | 2016 | 2015
bank obligations | $ 133.1 | $ 234.3
commercial paper | 802.7 | 1260.0
total short-term borrowings | $ 935.8 | $ 1494.3
the weighted average interest rate of short-term borrowings outstanding at 30 september 2016 and 2015 was 1.1% ( 1.1 % ) and .8% ( .8 % ) , respectively . cash paid for interest , net of amounts capitalized , was $ 121.1 in 2016 , $ 97.5 in 2015 , and $ 132.4 in 2014. .
Question:
considering the year 2016 , what is the short-term debt as a percent of total debt?
Important information:
table_3: 30 september the long-term debt of 2016 is 4918.1 ; the long-term debt of 2015 is 3949.1 ;
table_4: 30 september the total debt of 2016 is $ 6225.2 ; the total debt of 2015 is $ 5879.0 ;
table_9: 30 september the total short-term borrowings of 2016 is $ 935.8 ; the total short-term borrowings of 2015 is $ 1494.3 ;
Reasoning Steps:
Step: add2-1(935.8, 371.3) = 1307.1
Step: divide2-2(#0, 6225.2) = 21%
Program:
add(935.8, 371.3), divide(#0, 6225.2)
Program (Nested):
divide(add(935.8, 371.3), 6225.2)
| finqa563 |
by how much did the average price per share increase from 2010 to 2011?
Important information:
table_1: the 2012 of total cost of shares purchased is $ 971883 ; the 2012 of total number of shares purchased is 14087.8 ; the 2012 of average price paid per share is $ 68.99 ;
table_2: the 2011 of total cost of shares purchased is $ 2997688 ; the 2011 of total number of shares purchased is 36940.4 ; the 2011 of average price paid per share is $ 81.15 ;
table_3: the 2010 of total cost of shares purchased is $ 1716675 ; the 2010 of total number of shares purchased is 26624.8 ; the 2010 of average price paid per share is $ 64.48 ;
Reasoning Steps:
Step: minus2-1(81.15, 64.48) = 16.67
Step: divide2-2(#0, 64.48) = 25.9%
Program:
subtract(81.15, 64.48), divide(#0, 64.48)
Program (Nested):
divide(subtract(81.15, 64.48), 64.48)
| 0.25853 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
during the fourth quarter of 2010 , schlumberger issued 20ac1.0 billion 2.75% ( 2.75 % ) guaranteed notes due under this program . schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us denominated debt on which schlumberger will pay interest in us dollars at a rate of 2.56% ( 2.56 % ) . during the first quarter of 2009 , schlumberger issued 20ac1.0 billion 4.50% ( 4.50 % ) guaranteed notes due 2014 under this program . schlumberger entered into agreements to swap these euro notes for us dollars on the date of issue until maturity , effectively making this a us dollar denominated debt on which schlumberger will pay interest in us dollars at a rate of 4.95% ( 4.95 % ) . 0160 on april 17 , 2008 , the schlumberger board of directors approved an $ 8 billion share repurchase program for shares of schlumberger common stock , to be acquired in the open market before december 31 , 2011 . on july 21 , 2011 , the schlumberger board of directors approved an extension of this repurchase program to december 31 , 2013 . schlumberger had repurchased $ 7.12 billion of shares under this program as of december 31 , 2012 . the following table summarizes the activity under this share repurchase program during 2012 , 2011 and 2010 : ( stated in thousands except per share amounts ) total cost of shares purchased total number of shares purchased average price paid per share .
Table
| total cost of shares purchased | total number of shares purchased | average price paid per share
2012 | $ 971883 | 14087.8 | $ 68.99
2011 | $ 2997688 | 36940.4 | $ 81.15
2010 | $ 1716675 | 26624.8 | $ 64.48
0160 cash flow provided by operations was $ 6.8 billion in 2012 , $ 6.1 billion in 2011 and $ 5.5 billion in 2010 . in recent years , schlumberger has actively managed its activity levels in venezuela relative to its accounts receivable balance , and has recently experienced an increased delay in payment from its national oil company customer there . schlumberger operates in approximately 85 countries . at december 31 , 2012 , only five of those countries ( including venezuela ) individually accounted for greater than 5% ( 5 % ) of schlumberger 2019s accounts receivable balance of which only one , the united states , represented greater than 10% ( 10 % ) . 0160 dividends paid during 2012 , 2011 and 2010 were $ 1.43 billion , $ 1.30 billion and $ 1.04 billion , respectively . on january 17 , 2013 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 13.6% ( 13.6 % ) , to $ 0.3125 . on january 19 , 2012 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 10% ( 10 % ) , to $ 0.275 . on january 21 , 2011 , schlumberger announced that its board of directors had approved an increase in the quarterly dividend of 19% ( 19 % ) , to $ 0.25 . 0160 capital expenditures were $ 4.7 billion in 2012 , $ 4.0 billion in 2011 and $ 2.9 billion in 2010 . capital expenditures are expected to approach $ 3.9 billion for the full year 2013 . 0160 during 2012 , 2011 and 2010 schlumberger made contributions of $ 673 million , $ 601 million and $ 868 million , respectively , to its postretirement benefit plans . the us pension plans were 82% ( 82 % ) funded at december 31 , 2012 based on the projected benefit obligation . this compares to 87% ( 87 % ) funded at december 31 , 2011 . schlumberger 2019s international defined benefit pension plans are a combined 88% ( 88 % ) funded at december 31 , 2012 based on the projected benefit obligation . this compares to 88% ( 88 % ) funded at december 31 , 2011 . schlumberger currently anticipates contributing approximately $ 650 million to its postretirement benefit plans in 2013 , subject to market and business conditions . 0160 there were $ 321 million outstanding series b debentures at december 31 , 2009 . during 2010 , the remaining $ 320 million of the 2.125% ( 2.125 % ) series b convertible debentures due june 1 , 2023 were converted by holders into 8.0 million shares of schlumberger common stock and the remaining $ 1 million of outstanding series b debentures were redeemed for cash. .
Question:
by how much did the average price per share increase from 2010 to 2011?
Important information:
table_1: the 2012 of total cost of shares purchased is $ 971883 ; the 2012 of total number of shares purchased is 14087.8 ; the 2012 of average price paid per share is $ 68.99 ;
table_2: the 2011 of total cost of shares purchased is $ 2997688 ; the 2011 of total number of shares purchased is 36940.4 ; the 2011 of average price paid per share is $ 81.15 ;
table_3: the 2010 of total cost of shares purchased is $ 1716675 ; the 2010 of total number of shares purchased is 26624.8 ; the 2010 of average price paid per share is $ 64.48 ;
Reasoning Steps:
Step: minus2-1(81.15, 64.48) = 16.67
Step: divide2-2(#0, 64.48) = 25.9%
Program:
subtract(81.15, 64.48), divide(#0, 64.48)
Program (Nested):
divide(subtract(81.15, 64.48), 64.48)
| finqa564 |
in 2013 what was the percentage of the sites closed down
Important information:
table_1: the open sites beginning balance of 2013 is 284 ; the open sites beginning balance of 2012 is 285 ; the open sites beginning balance of 2011 is 294 ;
table_3: the closed sites of 2013 is -57 ( 57 ) ; the closed sites of 2012 is -57 ( 57 ) ; the closed sites of 2011 is -60 ( 60 ) ;
table_4: the open sites ending balance atdecember 31 of 2013 is 268 ; the open sites ending balance atdecember 31 of 2012 is 284 ; the open sites ending balance atdecember 31 of 2011 is 285 ;
Reasoning Steps:
Step: divide1-1(57, 268) = 21.3%
Program:
divide(57, 268)
Program (Nested):
divide(57, 268)
| 0.21269 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
our environmental site activity was as follows : 2013 2012 2011 .
Table
| 2013 | 2012 | 2011
open sites beginning balance | 284 | 285 | 294
new sites | 41 | 56 | 51
closed sites | -57 ( 57 ) | -57 ( 57 ) | -60 ( 60 )
open sites ending balance atdecember 31 | 268 | 284 | 285
the environmental liability includes future costs for remediation and restoration of sites , as well as ongoing monitoring costs , but excludes any anticipated recoveries from third parties . cost estimates are based on information available for each site , financial viability of other potentially responsible parties , and existing technology , laws , and regulations . the ultimate liability for remediation is difficult to determine because of the number of potentially responsible parties , site-specific cost sharing arrangements with other potentially responsible parties , the degree of contamination by various wastes , the scarcity and quality of volumetric data related to many of the sites , and the speculative nature of remediation costs . estimates of liability may vary over time due to changes in federal , state , and local laws governing environmental remediation . current obligations are not expected to have a material adverse effect on our consolidated results of operations , financial condition , or liquidity . property and depreciation 2013 our railroad operations are highly capital intensive , and our large base of homogeneous , network-type assets turns over on a continuous basis . each year we develop a capital program for the replacement of assets and for the acquisition or construction of assets that enable us to enhance our operations or provide new service offerings to customers . assets purchased or constructed throughout the year are capitalized if they meet applicable minimum units of property criteria . properties and equipment are carried at cost and are depreciated on a straight-line basis over their estimated service lives , which are measured in years , except for rail in high-density traffic corridors ( i.e. , all rail lines except for those subject to abandonment , yard and switching tracks , and electronic yards ) for which lives are measured in millions of gross tons per mile of track . we use the group method of depreciation in which all items with similar characteristics , use , and expected lives are grouped together in asset classes , and are depreciated using composite depreciation rates . the group method of depreciation treats each asset class as a pool of resources , not as singular items . we currently have more than 60 depreciable asset classes , and we may increase or decrease the number of asset classes due to changes in technology , asset strategies , or other factors . we determine the estimated service lives of depreciable railroad property by means of depreciation studies . we perform depreciation studies at least every three years for equipment and every six years for track assets ( i.e. , rail and other track material , ties , and ballast ) and other road property . our depreciation studies take into account the following factors : f0b7 statistical analysis of historical patterns of use and retirements of each of our asset classes ; f0b7 evaluation of any expected changes in current operations and the outlook for continued use of the assets ; f0b7 evaluation of technological advances and changes to maintenance practices ; and f0b7 expected salvage to be received upon retirement . for rail in high-density traffic corridors , we measure estimated service lives in millions of gross tons per mile of track . it has been our experience that the lives of rail in high-density traffic corridors are closely correlated to usage ( i.e. , the amount of weight carried over the rail ) . the service lives also vary based on rail weight , rail condition ( e.g. , new or secondhand ) , and rail type ( e.g. , straight or curve ) . our depreciation studies for rail in high density traffic corridors consider each of these factors in determining the estimated service lives . for rail in high-density traffic corridors , we calculate depreciation rates annually by dividing the number of gross ton-miles carried over the rail ( i.e. , the weight of loaded and empty freight cars , locomotives and maintenance of way equipment transported over the rail ) by the estimated service lives of the rail measured in millions of gross tons per mile . rail in high-density traffic corridors accounts for approximately 70 percent of the historical cost of rail and other track material . based on the number of gross ton-miles carried over our rail in high density traffic corridors during 2013 , the estimated service lives of the majority of this rail ranged from approximately 15 years to approximately 30 years . for all other depreciable assets , we compute depreciation based on the estimated service lives .
Question:
in 2013 what was the percentage of the sites closed down
Important information:
table_1: the open sites beginning balance of 2013 is 284 ; the open sites beginning balance of 2012 is 285 ; the open sites beginning balance of 2011 is 294 ;
table_3: the closed sites of 2013 is -57 ( 57 ) ; the closed sites of 2012 is -57 ( 57 ) ; the closed sites of 2011 is -60 ( 60 ) ;
table_4: the open sites ending balance atdecember 31 of 2013 is 268 ; the open sites ending balance atdecember 31 of 2012 is 284 ; the open sites ending balance atdecember 31 of 2011 is 285 ;
Reasoning Steps:
Step: divide1-1(57, 268) = 21.3%
Program:
divide(57, 268)
Program (Nested):
divide(57, 268)
| finqa565 |
in 2014 , what percentage of the total amortization amount was from intangibles?
Important information:
text_7: amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .
table_1: year the 2015 of amortization amount ( in millions ) is $ 45 ;
table_5: year the 2019 of amortization amount ( in millions ) is $ 44 ;
Reasoning Steps:
Step: divide2-1(36, 45) = .8
Step: multiply2-2(#0, const_100) = 80%
Program:
divide(36, 45), multiply(#0, const_100)
Program (Nested):
multiply(divide(36, 45), const_100)
| 80.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) asset divestitures in conjunction with the asset divestitures in 2013 and 2014 , devon removed $ 26 million and $ 706 million of goodwill , respectively , which were allocated to these assets . impairment devon 2019s canadian goodwill was originally recognized in 2001 as a result of a business combination consisting almost entirely of conventional gas assets that devon no longer owns . as a result of performing the goodwill impairment test described in note 1 , devon concluded the implied fair value of its canadian goodwill was zero as of december 31 , 2014 . this conclusion was largely based on the significant decline in benchmark oil prices , particularly after opec 2019s decision not to reduce its production targets that was announced in late november 2014 . consequently , in the fourth quarter of 2014 , devon wrote off its remaining canadian goodwill and recognized a $ 1.9 billion impairment . other intangible assets as of december 31 , 2014 , intangible assets associated with customer relationships had a gross carrying amount of $ 569 million and $ 36 million of accumulated amortization . the weighted-average amortization period for the customer relationships is 13.7 years . amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 . other intangible assets are reported in other long-term assets in the accompanying consolidated balance sheets . the following table summarizes the estimated aggregate amortization expense for the next five years . year amortization amount ( in millions ) .
Table
year | amortization amount ( in millions )
2015 | $ 45
2016 | $ 45
2017 | $ 45
2018 | $ 45
2019 | $ 44
.
Question:
in 2014 , what percentage of the total amortization amount was from intangibles?
Important information:
text_7: amortization expense for intangibles was approximately $ 36 million for the year ended december 31 , 2014 .
table_1: year the 2015 of amortization amount ( in millions ) is $ 45 ;
table_5: year the 2019 of amortization amount ( in millions ) is $ 44 ;
Reasoning Steps:
Step: divide2-1(36, 45) = .8
Step: multiply2-2(#0, const_100) = 80%
Program:
divide(36, 45), multiply(#0, const_100)
Program (Nested):
multiply(divide(36, 45), const_100)
| finqa566 |
what was the operating margin for 2014?
Important information:
text_7: operating margin of 17.4% ( 17.4 % ) increased 310 bp , primarily due to improved loading and leverage from the higher volumes and improved cost performance , partially offset by the unfavorable pricing impacts .
table_1: the sales of 2014 is $ 450.4 ; the sales of 2013 is $ 451.1 ; the sales of 2012 is $ 420.1 ;
table_2: the operating income of 2014 is 88.2 ; the operating income of 2013 is 65.5 ; the operating income of 2012 is 44.6 ;
Reasoning Steps:
Step: divide1-1(88.2, 450.4) = 19.58%
Program:
divide(88.2, 450.4)
Program (Nested):
divide(88.2, 450.4)
| 0.19583 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
2014 vs . 2013 sales increased 9% ( 9 % ) , as higher volumes of 9% ( 9 % ) and favorable currency of 1% ( 1 % ) were partially offset by lower pricing of 1% ( 1 % ) . electronics sales increased 8% ( 8 % ) , as higher delivery systems equipment sales and materials volumes of 8% ( 8 % ) and favorable currency of 1% ( 1 % ) were partially offset by lower pricing of 1% ( 1 % ) . performance materials sales increased 10% ( 10 % ) , as higher volumes of 11% ( 11 % ) were partially offset by lower pricing of 1% ( 1 % ) . the higher volumes were across all product lines and major regions . the lower pricing was primarily due to unfavorable mix impacts . operating income of $ 425.3 increased 32% ( 32 % ) , or $ 104.0 , primarily from higher volumes of $ 93 , lower operating costs of $ 31 , and favorable currency impacts of $ 5 , partially offset by unfavorable price and mix impacts of $ 26 . operating margin of 17.4% ( 17.4 % ) increased 310 bp , primarily due to improved loading and leverage from the higher volumes and improved cost performance , partially offset by the unfavorable pricing impacts . 2013 vs . 2012 sales decreased 3% ( 3 % ) , as lower volumes of 4% ( 4 % ) and lower pricing of 1% ( 1 % ) were partially offset by acquisitions of 2% ( 2 % ) . electronics sales decreased 8% ( 8 % ) , as weaker materials volumes and equipment sales were partially offset by the acquisition of da nanomaterials . performance materials sales increased 2% ( 2 % ) , as higher volumes of 4% ( 4 % ) were partially offset by lower pricing of 2% ( 2 % ) . the increase in volumes was primarily due to strength in the automobile and u.s . housing markets partially offset by weaker volumes to certain construction markets and marine coatings . the lower pricing was primarily due to unfavorable mix impacts . operating income of $ 321.3 decreased 25% ( 25 % ) , or $ 104.3 , and operating margin of 14.3% ( 14.3 % ) decreased 400 bp , as 2012 included a gain on the previously held equity interest in da nanomaterials of $ 85.9 . on a non-gaap basis , operating income of $ 321.3 decreased 5% ( 5 % ) , or $ 18.4 , primarily from unfavorable price and mix impacts of $ 15 , lower volumes of $ 9 , and higher operating costs of $ 4 partially offset by higher acquisitions of $ 6 and favorable currency of $ 4 . operating margin decreased 30 bp , primarily due to lower volumes and unfavorable price mix . equipment and energy .
Table
| 2014 | 2013 | 2012
sales | $ 450.4 | $ 451.1 | $ 420.1
operating income | 88.2 | 65.5 | 44.6
2014 vs . 2013 sales of $ 450.4 were relatively flat as higher liquefied natural gas ( lng ) project activity was offset by lower air separation ( asu ) project activity . operating income of $ 88.2 increased from the higher lng project activity . the sales backlog for the equipment business at 30 september 2014 was $ 520 , compared to $ 402 at 30 september 2013 . the increase was primarily due to new lng orders as global project development activity remains high . it is expected that approximately $ 320 of the backlog will be completed during 2015 . 2013 vs . 2012 sales of $ 451.1 increased primarily from higher lng project activity . operating income of $ 65.5 increased from the higher lng project activity . the sales backlog for the equipment business at 30 september 2013 was $ 402 , compared to $ 450 at 30 september other operating income ( loss ) primarily includes other expense and income that cannot be directly associated with the business segments , including foreign exchange gains and losses . also included are lifo inventory valuation adjustments , as the business segments use fifo , and the lifo pool valuation adjustments are not allocated to the business segments . other also included stranded costs resulting from discontinued operations , as these costs were not reallocated to the businesses in 2012 . 2014 vs . 2013 other operating loss was $ 13.5 , compared to $ 4.7 in the prior year . the decrease was primarily due to unfavorable foreign exchange losses of $ 5 and lifo adjustments of $ 4 . 2013 vs . 2012 other operating loss was $ 4.7 , compared to $ 6.6 in the prior year . the other operating loss in 2013 includes an unfavorable lifo adjustment versus the prior year of $ 11 . the other operating loss in 2012 included stranded costs from discontinued operations of $ 10. .
Question:
what was the operating margin for 2014?
Important information:
text_7: operating margin of 17.4% ( 17.4 % ) increased 310 bp , primarily due to improved loading and leverage from the higher volumes and improved cost performance , partially offset by the unfavorable pricing impacts .
table_1: the sales of 2014 is $ 450.4 ; the sales of 2013 is $ 451.1 ; the sales of 2012 is $ 420.1 ;
table_2: the operating income of 2014 is 88.2 ; the operating income of 2013 is 65.5 ; the operating income of 2012 is 44.6 ;
Reasoning Steps:
Step: divide1-1(88.2, 450.4) = 19.58%
Program:
divide(88.2, 450.4)
Program (Nested):
divide(88.2, 450.4)
| finqa567 |
what was the percentage change in the fair value of msrs in 2007?
Important information:
table_3: year ended december 31 ( inmillions ) the fair value at beginning of period of 2007 is 7546 ; the fair value at beginning of period of 2006 is 6682 ;
table_5: year ended december 31 ( inmillions ) the purchase of msrs of 2007 is 798 ; the purchase of msrs of 2006 is 627 ;
table_10: year ended december 31 ( inmillions ) the fair value at december 31 of 2007 is $ 8632 ; the fair value at december 31 of 2006 is $ 7546 ;
Reasoning Steps:
Step: multiply1-1(8632, 7546) = 1086
Step: divide1-2(#0, 7546) = 14%
Program:
multiply(8632, 7546), divide(#0, 7546)
Program (Nested):
divide(multiply(8632, 7546), 7546)
| 8632.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
jpmorgan chase & co . / 2007 annual report 155 flows at risk-adjusted rates . the model considers portfolio characteris- tics , contractually specified servicing fees , prepayment assumptions , delinquency rates , late charges , other ancillary revenue and costs to service , and other economic factors . the firm reassesses and periodi- cally adjusts the underlying inputs and assumptions used in the oas model to reflect market conditions and assumptions that a market par- ticipant would consider in valuing the msr asset . during the fourth quarter of the 2007 , the firm 2019s proprietary prepayment model was refined to reflect a decrease in estimated future mortgage prepay- ments based upon a number of market related factors including a downward trend in home prices , general tightening of credit under- writing standards and the associated impact on refinancing activity . the firm compares fair value estimates and assumptions to observable market data where available and to recent market activity and actual portfolio experience . the fair value of msrs is sensitive to changes in interest rates , includ- ing their effect on prepayment speeds . jpmorgan chase uses or has used combinations of derivatives , afs securities and trading instru- ments to manage changes in the fair value of msrs . the intent is to offset any changes in the fair value of msrs with changes in the fair value of the related risk management instruments . msrs decrease in value when interest rates decline . conversely , securities ( such as mort- gage-backed securities ) , principal-only certificates and certain deriva- tives ( when the firm receives fixed-rate interest payments ) increase in value when interest rates decline . in march 2006 , the fasb issued sfas 156 , which permits an entity a one-time irrevocable election to adopt fair value accounting for a class of servicing assets . jpmorgan chase elected to adopt the standard effective january 1 , 2006 , and defined msrs as one class of servicing assets for this election . at the transition date , the fair value of the msrs exceeded their carrying amount , net of any related valuation allowance , by $ 150 million net of taxes . this amount was recorded as a cumulative-effect adjustment to retained earnings as of january 1 , 2006 . msrs are recognized in the consolidated balance sheet at fair value , and changes in their fair value are recorded in current- period earnings . revenue amounts related to msrs and the financial instruments used to manage the risk of msrs are recorded in mortgage fees and related income . for the year ended december 31 , 2005 , msrs were accounted for under sfas 140 , using a lower of cost or fair value approach . under this approach , msrs were amortized as a reduction of the actual servicing income received in proportion to , and over the period of , the estimated future net servicing income stream of the underlying mortgage loans . for purposes of evaluating and measuring impairment of msrs , the firm stratified the portfolio on the basis of the predominant risk characteristics , which are loan type and interest rate . any indicated impairment was rec- ognized as a reduction in revenue through a valuation allowance , which represented the extent to which the carrying value of an individual stra- tum exceeded its estimated fair value . any gross carrying value and relat- ed valuation allowance amounts which were not expected to be recov- ered in the foreseeable future , based upon the interest rate scenario , were considered to be other-than-temporary . prior to the adoption of sfas 156 , the firm designated certain deriva- tives used to risk manage msrs ( e.g. , a combination of swaps , swap- tions and floors ) as sfas 133 fair value hedges of benchmark interest rate risk . sfas 133 hedge accounting allowed the carrying value of the hedged msrs to be adjusted through earnings in the same period that the change in value of the hedging derivatives was recognized through earnings . the designated hedge period was daily . in designat- ing the benchmark interest rate , the firm considered the impact that the change in the benchmark rate had on the prepayment speed esti- mates in determining the fair value of the msrs . hedge effectiveness was assessed using a regression analysis of the change in fair value of the msrs as a result of changes in benchmark interest rates and of the change in the fair value of the designated derivatives . the valua- tion adjustments to both the msrs and sfas 133 derivatives were recorded in mortgage fees and related income . with the election to apply fair value accounting to the msrs under sfas 156 , sfas 133 hedge accounting is no longer necessary . for a further discussion on derivative instruments and hedging activities , see note 30 on pages 168 2013169 of this annual report . the following table summarizes msr activity , certain key assumptions , and the sensitivity of the fair value of msrs to adverse changes in those key assumptions for the years ended december 31 , 2007 and 2006 , during which period msrs were accounted for under sfas year ended december 31 , ( in millions ) 2007 2006 .
Table
year ended december 31 ( inmillions ) | 2007 | 2006
balance at beginning of period after valuation allowance | $ 7546 | $ 6452
cumulative effect of change in accounting principle | 2014 | 230
fair value at beginning of period | 7546 | 6682
originations of msrs | 2335 | 1512
purchase of msrs | 798 | 627
total additions | 3133 | 2139
change in valuation due to inputs and assumptions ( a ) | -516 ( 516 ) | 165
other changes in fair value ( b ) | -1531 ( 1531 ) | -1440 ( 1440 )
total change in fair value | -2047 ( 2047 ) | -1275 ( 1275 )
fair value at december 31 | $ 8632 | $ 7546
change in unrealized ( losses ) gains included in income related to msrs held at december 31 | $ -516 ( 516 ) | na
change in unrealized ( losses ) gains included in income related to msrs held at december 31 $ ( 516 ) na ( a ) represents msr asset fair value adjustments due to changes in market-based inputs , such as interest rates and volatility , as well as updates to assumptions used in the msr valuation model . this caption also represents total realized and unrealized gains ( losses ) included in net income per the sfas 157 disclosure for fair value measurement using significant unobservable inputs ( level 3 ) . these changes in fair value are recorded in mortgage fees and related income . ( b ) includes changes in the msr value due to modeled servicing portfolio runoff ( or time decay ) . this caption represents the impact of cash settlements per the sfas 157 disclosure for fair value measurement using significant unobservable inputs ( level 3 ) . these changes in fair value are recorded in mortgage fees and related income. .
Question:
what was the percentage change in the fair value of msrs in 2007?
Important information:
table_3: year ended december 31 ( inmillions ) the fair value at beginning of period of 2007 is 7546 ; the fair value at beginning of period of 2006 is 6682 ;
table_5: year ended december 31 ( inmillions ) the purchase of msrs of 2007 is 798 ; the purchase of msrs of 2006 is 627 ;
table_10: year ended december 31 ( inmillions ) the fair value at december 31 of 2007 is $ 8632 ; the fair value at december 31 of 2006 is $ 7546 ;
Reasoning Steps:
Step: multiply1-1(8632, 7546) = 1086
Step: divide1-2(#0, 7546) = 14%
Program:
multiply(8632, 7546), divide(#0, 7546)
Program (Nested):
divide(multiply(8632, 7546), 7546)
| finqa568 |
how many countries are cat products distributed to?
Important information:
text_10: our machines are distributed principally through a worldwide organization of dealers ( dealer network ) , 48 located in the united states and 123 located outside the united states , serving 192 countries .
table_1: ( millions of dollars ) the receivables - trade and other of december 31 , 2017 is $ 34 ; the receivables - trade and other of december 31 , 2016 is $ 55 ;
table_6: ( millions of dollars ) the total of december 31 , 2017 is $ 412 ; the total of december 31 , 2016 is $ 716 ;
Reasoning Steps:
Step: add1-1(192, const_1) = 193
Program:
add(192, const_1)
Program (Nested):
add(192, const_1)
| 193.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
64 | 2017 form 10-k notes to consolidated financial statements 1 . operations and summary of significant accounting policies a . nature of operations information in our financial statements and related commentary are presented in the following categories : machinery , energy & transportation ( me&t ) 2013 represents the aggregate total of construction industries , resource industries , energy & transportation and all other operating segments and related corporate items and eliminations . financial products 2013 primarily includes the company 2019s financial products segment . this category includes caterpillar financial services corporation ( cat financial ) , caterpillar insurance holdings inc . ( insurance services ) and their respective subsidiaries . our products are sold primarily under the brands 201ccaterpillar , 201d 201ccat , 201d design versions of 201ccat 201d and 201ccaterpillar , 201d 201cemd , 201d 201cfg wilson , 201d 201cmak , 201d 201cmwm , 201d 201cperkins , 201d 201cprogress rail , 201d 201csem 201d and 201csolar turbines 201d . we conduct operations in our machinery , energy & transportation lines of business under highly competitive conditions , including intense price competition . we place great emphasis on the high quality and performance of our products and our dealers 2019 service support . although no one competitor is believed to produce all of the same types of equipment that we do , there are numerous companies , large and small , which compete with us in the sale of each of our products . our machines are distributed principally through a worldwide organization of dealers ( dealer network ) , 48 located in the united states and 123 located outside the united states , serving 192 countries . reciprocating engines are sold principally through the dealer network and to other manufacturers for use in products . some of the reciprocating engines manufactured by our subsidiary perkins engines company limited , are also sold through its worldwide network of 93 distributors covering 182 countries . the fg wilson branded electric power generation systems primarily manufactured by our subsidiary caterpillar northern ireland limited are sold through its worldwide network of 154 distributors covering 131 countries . some of the large , medium speed reciprocating engines are also sold a0 under the mak brand through a worldwide network of 20 distributors covering 130 countries . our dealers do not deal exclusively with our products ; however , in most cases sales and servicing of our products are the dealers 2019 principal business . some products , primarily turbines and locomotives , are sold directly to end customers through sales forces employed by the company . at times , these employees are assisted by independent sales representatives . the financial products line of business also conducts operations under highly competitive conditions . financing for users of caterpillar products is available through a variety of competitive sources , principally commercial banks and finance and leasing companies . we offer various financing plans designed to increase the opportunity for sales of our products and generate financing income for our company . a significant portion of financial products activity is conducted in north america , with additional offices in latin america , asia/pacific , europe , africa and middle east . b . basis of presentation the consolidated financial statements include the accounts of caterpillar a0 inc . and its subsidiaries where we have a controlling financial interest . investments in companies where our ownership exceeds 20 percent and we do not have a controlling interest or where the ownership is less than 20 percent and for which we have a significant influence are accounted for by the equity method . see note 9 for further discussion . we consolidate all variable interest entities ( vies ) where caterpillar inc . is the primary beneficiary . for vies , we assess whether we are the primary beneficiary as prescribed by the accounting guidance on the consolidation of vies . the primary beneficiary of a vie is the party that has both the power to direct the activities that most significantly impact the entity 2019s economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the vie . see note 21 for further discussion on a consolidated vie . we have affiliates , suppliers and dealers that are vies of which we are not the primary beneficiary . although we have provided financial support , we do not have the power to direct the activities that most significantly impact the economic performance of each entity . our maximum exposure to loss from vies for which we are not the primary beneficiary was as follows: .
Table
( millions of dollars ) | december 31 , 2017 | december 31 , 2016
receivables - trade and other | $ 34 | $ 55
receivables - finance | 42 | 174
long-term receivables - finance | 38 | 246
investments in unconsolidated affiliated companies | 39 | 31
guarantees | 259 | 210
total | $ 412 | $ 716
in addition , cat financial has end-user customers that are vies of which we are not the primary beneficiary . although we have provided financial support to these entities and therefore have a variable interest , we do not have the power to direct the activities that most significantly impact their economic performance . our maximum exposure to loss from our involvement with these vies is limited to the credit risk inherently present in the financial support that we have provided . these risks are evaluated and reflected in our financial statements as part of our overall portfolio of finance receivables and related allowance for credit losses. .
Question:
how many countries are cat products distributed to?
Important information:
text_10: our machines are distributed principally through a worldwide organization of dealers ( dealer network ) , 48 located in the united states and 123 located outside the united states , serving 192 countries .
table_1: ( millions of dollars ) the receivables - trade and other of december 31 , 2017 is $ 34 ; the receivables - trade and other of december 31 , 2016 is $ 55 ;
table_6: ( millions of dollars ) the total of december 31 , 2017 is $ 412 ; the total of december 31 , 2016 is $ 716 ;
Reasoning Steps:
Step: add1-1(192, const_1) = 193
Program:
add(192, const_1)
Program (Nested):
add(192, const_1)
| finqa569 |
what were 2012 total consolidated revenues in millions?
Important information:
text_0: international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues .
table_1: global networks discovery channel the animal planet of internationalsubscribers ( millions ) 246 is 183 ; the animal planet of regional networks dmax is discovery kids ; the animal planet of internationalsubscribers ( millions ) 90 is 61 ;
text_13: ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues .
Reasoning Steps:
Step: divide2-1(105, 2%) = 5250
Program:
divide(105, 2%)
Program (Nested):
divide(105, 2%)
| 5250.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues . our international networks segment principally consists of national and pan-regional television networks . this segment generates revenue from operations in virtually every pay-television market in the world through an infrastructure that includes operational centers in london , singapore and miami . discovery channel , animal planet and tlc lead the international networks 2019 portfolio of television networks . international networks has one of the largest international distribution platforms of networks with as many as fourteen networks in more than 200 countries and territories around the world . at december 31 , 2012 , international networks operated over 180 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities . international networks also has free-to-air networks in the u.k. , germany , italy and spain and continues to pursue international expansion . our international networks segment owns and operates the following television networks which reached the following number of subscribers as of december 31 , 2012 : global networks international subscribers ( millions ) regional networks international subscribers ( millions ) .
Table
global networks discovery channel | internationalsubscribers ( millions ) 246 | regional networks dmax | internationalsubscribers ( millions ) 90
animal planet | 183 | discovery kids | 61
tlc real time and travel & living | 174 | quest | 26
discovery science | 75 | discovery history | 13
investigation discovery | 63 | shed | 12
discovery home & health | 57 | discovery en espanol ( u.s. ) | 5
turbo | 42 | discovery familia ( u.s ) | 4
discovery world | 27 | |
on december 21 , 2012 , our international networks segment acquired 20% ( 20 % ) equity ownership interests in eurosport , a european sports satellite and cable network , and a portfolio of pay television networks from tf1 , a french media company , for $ 264 million , including transaction costs . we have a call right that enables us to purchase a controlling interest in eurosport starting december 2014 and for one year thereafter . if we exercise our call right , tf1 will have the right to put its remaining interest to us for one year thereafter . the arrangement is intended to increase the growth of eurosport , which focuses on niche but regionally popular sports such as tennis , skiing , cycling and skating , and enhance our pay television offerings in france . on december 28 , 2012 , we acquired switchover media , a group of five italian television channels with children's and entertainment programming . ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues . education is comprised of curriculum-based product and service offerings . this segment generates revenues primarily from subscriptions charged to k-12 schools for access to an online suite of curriculum-based vod tools , professional development services , digital textbooks and , to a lesser extent , student assessments and publication of hardcopy curriculum-based content . our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits , corporations , foundations and trade associations . content development our content development strategy is designed to increase viewership , maintain innovation and quality leadership , and provide value for our network distributors and advertising customers . our content is sourced from a wide range of third-party producers , which include some of the world 2019s leading nonfiction production companies as well as independent producers . our production arrangements fall into three categories : produced , coproduced and licensed . substantially all produced content includes content that we engage third parties to develop and produce , while we retain editorial control and own most or all of the rights , in exchange for paying all development and production costs . coproduced content refers to program rights that we have collaborated with third parties to finance and develop because at times world-wide rights are not available for acquisition or we save costs by collaborating with third parties . licensed content is comprised of films or series that have been previously produced by third parties. .
Question:
what were 2012 total consolidated revenues in millions?
Important information:
text_0: international networks international networks generated revenues of $ 1637 million during 2012 , which represented 37% ( 37 % ) of our total consolidated revenues .
table_1: global networks discovery channel the animal planet of internationalsubscribers ( millions ) 246 is 183 ; the animal planet of regional networks dmax is discovery kids ; the animal planet of internationalsubscribers ( millions ) 90 is 61 ;
text_13: ( see note 3 to the accompanying consolidated financial statements. ) education education generated revenues of $ 105 million during 2012 , which represented 2% ( 2 % ) of our total consolidated revenues .
Reasoning Steps:
Step: divide2-1(105, 2%) = 5250
Program:
divide(105, 2%)
Program (Nested):
divide(105, 2%)
| finqa570 |
what percentage of total aggregate contractual obligations is due to long-term debt?
Important information:
text_27: aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: .
table_1: ( dollars in millions ) contractual obligation the long-term debt of ( dollars in millions ) total is $ 275.1 ; the long-term debt of ( dollars in millions ) less than 1 year is $ 8.6 ; the long-term debt of ( dollars in millions ) 1 - 3 years is $ 13.8 ; the long-term debt of ( dollars in millions ) 3 - 5 years is $ 138.2 ; the long-term debt of more than 5 years is $ 114.5 ;
table_5: ( dollars in millions ) contractual obligation the total of ( dollars in millions ) total is $ 521.3 ; the total of ( dollars in millions ) less than 1 year is $ 199.6 ; the total of ( dollars in millions ) 1 - 3 years is $ 35.2 ; the total of ( dollars in millions ) 3 - 5 years is $ 155.8 ; the total of more than 5 years is $ 130.7 ;
Reasoning Steps:
Step: divide1-1(275.1, 521.3) = 53%
Program:
divide(275.1, 521.3)
Program (Nested):
divide(275.1, 521.3)
| 0.52772 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
table of contents item 7 2013 management 2019s discussion and analysis of financial condition and results of operations liquidity and capital resources we recorded net earnings of $ 35.4 million or $ 1.18 per share in 2004 , compared with $ 52.2 million or $ 1.76 per share recorded in 2003 and $ 51.3 million or $ 1.86 per share in 2002 . net earnings recorded in 2004 were negatively impacted by cost increases to steel and freight , as well as manufacturing inefficiencies during the first nine months of the year in our ashland city plant and higher selling , general and administrative expense ( sg&a ) . while net earnings were flat in 2003 compared with 2002 , the lower earnings per share amount in 2003 as compared with 2002 reflected the full-year impact of our stock offering in may 2002 . our individual segment performance will be discussed later in this section . our working capital , excluding short-term debt , was $ 339.8 million at december 31 , 2004 , compared with $ 305.9 million and $ 225.1 million at december 31 , 2003 , and december 31 , 2002 , respectively . the $ 33.9 million increase in 2004 reflects $ 44.9 million higher receivable balances due to longer payment terms experienced by both of our businesses as well as higher sales levels in the fourth quarter . offsetting the increase in receivable balances were $ 13.5 million lower inventory levels split about equally between water systems and electrical products and $ 14.3 million higher accounts payable balances . the $ 80.8 million increase in 2003 reflects $ 46.6 million higher inventory balances due primarily to extensive manufacturing repositioning in our electric motor business and several new product introductions and manufacturing consolidation in our water systems business . additionally , receivable balances were $ 21.2 million higher due to price increases associated with new product introductions in our water systems business and an increase in international sales , which tend to have longer payment terms . finally , a $ 13.1 million increase in accounts payable balances was largely offset by $ 9.4 million in restructuring expenses paid out in 2003 . reducing working capital is one of our major initiatives in 2005 . cash provided by operating activities during 2004 was $ 67.2 million compared with $ 29.0 million during 2003 and $ 116.0 million during 2002 . despite lower earnings in 2004 , a smaller investment in working capital explains the majority of the improvement in cash flow compared with 2003 . the higher investment in working capital in 2003 ( as discussed above ) , explains the majority of the difference between 2003 and our capital expenditures were $ 48.5 million in 2004 , essentially the same as in 2003 and approximately $ 2.2 million higher than in 2002 . the increase in 2003 was associated with new product launches in our water systems business . we are projecting 2005 capital expenditures to be approximately $ 55 million , essentially the same as our projected 2005 depreciation expense . we believe that our present facilities and planned capital expenditures are sufficient to provide adequate capacity for our operations in 2005 . in june 2004 , we completed a $ 265 million , five-year revolving credit facility with a group of eight banks . the new facility expires on june 10 , 2009 , and it replaced a $ 250 million credit facility which expired on august 2 , 2004 , and was terminated on june 10 , 2004 . the new facility backs up commercial paper and credit line borrowings . as a result of the long-term nature of this facility , the commercial paper and credit line borrowings are now classified as long-term debt . at december 31 , 2004 , we had available borrowing capacity of $ 153.9 million under this facility . we believe that the combination of available borrowing capacity and operating cash flow will provide sufficient funds to finance our existing operations for the foreseeable future . to take advantage of historically low long-term borrowing rates , we issued $ 50.0 million in senior notes with two insurance companies in june 2003 . the notes range in maturity between 2013 and 2016 and carry a weighted average interest rate of slightly less than 4.5 percent . the proceeds of the notes were used to repay commercial paper and borrowing under the credit facility . our leverage , as measured by the ratio of total debt to total capitalization , was 32 percent at the end of 2004 and the end of 2003 . aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: .
Table
( dollars in millions ) contractual obligation | ( dollars in millions ) total | ( dollars in millions ) less than 1 year | ( dollars in millions ) 1 - 3 years | ( dollars in millions ) 3 - 5 years | more than 5 years
long-term debt | $ 275.1 | $ 8.6 | $ 13.8 | $ 138.2 | $ 114.5
capital leases | 6.0 | 2014 | 2014 | 6.0 | 2014
operating leases | 62.9 | 14.4 | 20.7 | 11.6 | 16.2
purchase obligations | 177.3 | 176.6 | 0.7 | 2014 | 2014
total | $ 521.3 | $ 199.6 | $ 35.2 | $ 155.8 | $ 130.7
.
Question:
what percentage of total aggregate contractual obligations is due to long-term debt?
Important information:
text_27: aggregate contractual obligations a summary of our contractual obligations as of december 31 , 2004 , is as follows: .
table_1: ( dollars in millions ) contractual obligation the long-term debt of ( dollars in millions ) total is $ 275.1 ; the long-term debt of ( dollars in millions ) less than 1 year is $ 8.6 ; the long-term debt of ( dollars in millions ) 1 - 3 years is $ 13.8 ; the long-term debt of ( dollars in millions ) 3 - 5 years is $ 138.2 ; the long-term debt of more than 5 years is $ 114.5 ;
table_5: ( dollars in millions ) contractual obligation the total of ( dollars in millions ) total is $ 521.3 ; the total of ( dollars in millions ) less than 1 year is $ 199.6 ; the total of ( dollars in millions ) 1 - 3 years is $ 35.2 ; the total of ( dollars in millions ) 3 - 5 years is $ 155.8 ; the total of more than 5 years is $ 130.7 ;
Reasoning Steps:
Step: divide1-1(275.1, 521.3) = 53%
Program:
divide(275.1, 521.3)
Program (Nested):
divide(275.1, 521.3)
| finqa571 |
what is the highest value for total operating segments during this period?
Important information:
table_4: years ended december 31 the total operating segments of 2011 is 11287 ; the total operating segments of 2010 is 8512 ; the total operating segments of 2009 is 7546 ;
table_5: years ended december 31 the unallocated of 2011 is 2014 ; the unallocated of 2010 is 2014 ; the unallocated of 2009 is 49 ;
table_6: years ended december 31 the total revenue of 2011 is $ 11287 ; the total revenue of 2010 is $ 8512 ; the total revenue of 2009 is $ 7595 ;
Reasoning Steps:
Step: max2-1(total operating segments, none) = 11287
Program:
table_max(total operating segments, none)
Program (Nested):
table_max(total operating segments, none)
| 11287.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
aon has certain contractual contingent guarantees for premium payments owed by clients to certain insurance companies . the maximum exposure with respect to such contractual contingent guarantees was approximately $ 48 million at december 31 , 2011 . aon has provided commitments to fund certain limited partnerships in which it has an interest in the event that the general partners request funding . some of these commitments have specific expiration dates and the maximum potential funding under these commitments was $ 64 million at december 31 , 2011 . during 2011 , the company funded $ 15 million of these commitments . aon expects that as prudent business interests dictate , additional guarantees and indemnifications may be issued from time to time . 17 . related party transactions during 2011 , the company , in the ordinary course of business , provided retail brokerage , consulting and financial advisory services to , and received wholesale brokerage services from , an entity that is controlled by one of the company 2019s stockholders . these transactions were negotiated at an arms-length basis and contain customary terms and conditions . during 2011 , commissions and fee revenue from these transactions was approximately $ 9 million . 18 . segment information the company has two reportable operating segments : risk solutions and hr solutions . unallocated income and expenses , when combined with the operating segments and after the elimination of intersegment revenues and expenses , total to the amounts in the consolidated financial statements . reportable operating segments have been determined using a management approach , which is consistent with the basis and manner in which aon 2019s chief operating decision maker ( 2018 2018codm 2019 2019 ) uses financial information for the purposes of allocating resources and assessing performance . the codm assesses performance based on operating segment operating income and generally accounts for intersegment revenue as if the revenue were from third parties and at what management believes are current market prices . the company does not present net assets by segment as this information is not reviewed by the codm . risk solutions acts as an advisor and insurance and reinsurance broker , helping clients manage their risks , via consultation , as well as negotiation and placement of insurance risk with insurance carriers through aon 2019s global distribution network . hr solutions partners with organizations to solve their most complex benefits , talent and related financial challenges , and improve business performance by designing , implementing , communicating and administering a wide range of human capital , retirement , investment management , health care , compensation and talent management strategies . aon 2019s total revenue is as follows ( in millions ) : .
Table
years ended december 31 | 2011 | 2010 | 2009
risk solutions | $ 6817 | $ 6423 | $ 6305
hr solutions | 4501 | 2111 | 1267
intersegment elimination | -31 ( 31 ) | -22 ( 22 ) | -26 ( 26 )
total operating segments | 11287 | 8512 | 7546
unallocated | 2014 | 2014 | 49
total revenue | $ 11287 | $ 8512 | $ 7595
.
Question:
what is the highest value for total operating segments during this period?
Important information:
table_4: years ended december 31 the total operating segments of 2011 is 11287 ; the total operating segments of 2010 is 8512 ; the total operating segments of 2009 is 7546 ;
table_5: years ended december 31 the unallocated of 2011 is 2014 ; the unallocated of 2010 is 2014 ; the unallocated of 2009 is 49 ;
table_6: years ended december 31 the total revenue of 2011 is $ 11287 ; the total revenue of 2010 is $ 8512 ; the total revenue of 2009 is $ 7595 ;
Reasoning Steps:
Step: max2-1(total operating segments, none) = 11287
Program:
table_max(total operating segments, none)
Program (Nested):
table_max(total operating segments, none)
| finqa572 |
at december 31 , what was the percentage change in investment income from 2011 to 2012
Important information:
table_1: ( dollars in millions ) the 2015 of december 31 , average investments ( 1 ) is $ 17430.8 ; the 2015 of december 31 , pre-tax investment income ( 2 ) is $ 473.8 ; the 2015 of december 31 , pre-tax effective yield is 2.72% ( 2.72 % ) ; the 2015 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is $ -184.1 ( 184.1 ) ; the 2015 of december 31 , pre-tax unrealized net capital gains ( losses ) is $ -194.0 ( 194.0 ) ;
table_4: ( dollars in millions ) the 2012 of december 31 , average investments ( 1 ) is 16220.9 ; the 2012 of december 31 , pre-tax investment income ( 2 ) is 600.2 ; the 2012 of december 31 , pre-tax effective yield is 3.70% ( 3.70 % ) ; the 2012 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 164.4 ; the 2012 of december 31 , pre-tax unrealized net capital gains ( losses ) is 161.0 ;
table_5: ( dollars in millions ) the 2011 of december 31 , average investments ( 1 ) is 15680.9 ; the 2011 of december 31 , pre-tax investment income ( 2 ) is 620.0 ; the 2011 of december 31 , pre-tax effective yield is 3.95% ( 3.95 % ) ; the 2011 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 6.9 ; the 2011 of december 31 , pre-tax unrealized net capital gains ( losses ) is 106.6 ;
Reasoning Steps:
Step: minus2-1(600.2, 620.0) = -19.8
Step: divide2-2(#0, 620.0) = -3.2%
Program:
subtract(600.2, 620.0), divide(#0, 620.0)
Program (Nested):
divide(subtract(600.2, 620.0), 620.0)
| -0.03194 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the company had net realized capital losses for 2015 of $ 184.1 million . in 2015 , the company recorded $ 102.2 million of other-than-temporary impairments on fixed maturity securities , $ 45.6 million of losses due to fair value re-measurements and $ 36.3 million of net realized capital losses from sales of fixed maturity and equity securities . in 2014 , net realized capital gains were $ 84.0 million due to $ 121.7 million of gains from fair value re-measurements on fixed maturity and equity securities and $ 1.9 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 39.5 million of other-than- temporary impairments on fixed maturity securities . in 2013 , net realized capital gains were $ 300.2 million due to $ 258.9 million of gains due to fair value re-measurements on fixed maturity and equity securities and $ 42.4 million of net realized capital gains from sales of fixed maturity and equity securities , partially offset by $ 1.1 million of other-than-temporary impairments on fixed maturity securities . the company 2019s cash and invested assets totaled $ 17.7 billion at december 31 , 2015 , which consisted of 87.4% ( 87.4 % ) fixed maturities and cash , of which 91.4% ( 91.4 % ) were investment grade ; 8.2% ( 8.2 % ) equity securities and 4.4% ( 4.4 % ) other invested assets . the average maturity of fixed maturity securities was 4.1 years at december 31 , 2015 , and their overall duration was 3.0 years . as of december 31 , 2015 , the company did not have any direct investments in commercial real estate or direct commercial mortgages or any material holdings of derivative investments ( other than equity index put option contracts as discussed in item 8 , 201cfinancial statements and supplementary data 201d - note 4 of notes to consolidated financial statements ) or securities of issuers that are experiencing cash flow difficulty to an extent that the company 2019s management believes could threaten the issuer 2019s ability to meet debt service payments , except where other-than-temporary impairments have been recognized . the company 2019s investment portfolio includes structured commercial mortgage-backed securities ( 201ccmbs 201d ) with a book value of $ 264.9 million and a market value of $ 266.3 million . cmbs securities comprising more than 70% ( 70 % ) of the december 31 , 2015 market value are rated aaa by standard & poor 2019s financial services llc ( 201cstandard & poor 2019s 201d ) . furthermore , securities comprising more than 90% ( 90 % ) of the market value are rated investment grade by standard & poor 2019s . the following table reflects investment results for the company for the periods indicated: .
Table
( dollars in millions ) | december 31 , average investments ( 1 ) | december 31 , pre-tax investment income ( 2 ) | december 31 , pre-tax effective yield | december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) | december 31 , pre-tax unrealized net capital gains ( losses )
2015 | $ 17430.8 | $ 473.8 | 2.72% ( 2.72 % ) | $ -184.1 ( 184.1 ) | $ -194.0 ( 194.0 )
2014 | 16831.9 | 530.6 | 3.15% ( 3.15 % ) | 84.0 | 20.3
2013 | 16472.5 | 548.5 | 3.33% ( 3.33 % ) | 300.2 | -467.2 ( 467.2 )
2012 | 16220.9 | 600.2 | 3.70% ( 3.70 % ) | 164.4 | 161.0
2011 | 15680.9 | 620.0 | 3.95% ( 3.95 % ) | 6.9 | 106.6
pre-tax pre-tax pre-tax pre-tax realized net unrealized net average investment effective capital ( losses ) capital gains ( dollars in millions ) investments ( 1 ) income ( 2 ) yield gains ( 3 ) ( losses ) 17430.8$ 473.8$ 2.72% ( 2.72 % ) ( 184.1 ) $ ( 194.0 ) $ 16831.9 530.6 3.15% ( 3.15 % ) 84.0 20.3 16472.5 548.5 3.33% ( 3.33 % ) 300.2 ( 467.2 ) 16220.9 600.2 3.70% ( 3.70 % ) 164.4 161.0 15680.9 620.0 3.95% ( 3.95 % ) 6.9 106.6 ( 1 ) average of the beginning and ending carrying values of investments and cash , less net funds held , future policy benefit reserve , and non-interest bearing cash . bonds , common stock and redeemable and non-redeemable preferred stocks are carried at market value . common stock which are actively managed are carried at fair value . ( 2 ) after investment expenses , excluding realized net capital gains ( losses ) . ( 3 ) included in 2015 , 2014 , 2013 , 2012 and 2011 are fair value re-measurements of ( $ 45.6 ) million , $ 121.7 million , $ 258.9 million , $ 118.1 million and ( $ 4.4 ) million , respectively. .
Question:
at december 31 , what was the percentage change in investment income from 2011 to 2012
Important information:
table_1: ( dollars in millions ) the 2015 of december 31 , average investments ( 1 ) is $ 17430.8 ; the 2015 of december 31 , pre-tax investment income ( 2 ) is $ 473.8 ; the 2015 of december 31 , pre-tax effective yield is 2.72% ( 2.72 % ) ; the 2015 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is $ -184.1 ( 184.1 ) ; the 2015 of december 31 , pre-tax unrealized net capital gains ( losses ) is $ -194.0 ( 194.0 ) ;
table_4: ( dollars in millions ) the 2012 of december 31 , average investments ( 1 ) is 16220.9 ; the 2012 of december 31 , pre-tax investment income ( 2 ) is 600.2 ; the 2012 of december 31 , pre-tax effective yield is 3.70% ( 3.70 % ) ; the 2012 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 164.4 ; the 2012 of december 31 , pre-tax unrealized net capital gains ( losses ) is 161.0 ;
table_5: ( dollars in millions ) the 2011 of december 31 , average investments ( 1 ) is 15680.9 ; the 2011 of december 31 , pre-tax investment income ( 2 ) is 620.0 ; the 2011 of december 31 , pre-tax effective yield is 3.95% ( 3.95 % ) ; the 2011 of december 31 , pre-tax realized net capital ( losses ) gains ( 3 ) is 6.9 ; the 2011 of december 31 , pre-tax unrealized net capital gains ( losses ) is 106.6 ;
Reasoning Steps:
Step: minus2-1(600.2, 620.0) = -19.8
Step: divide2-2(#0, 620.0) = -3.2%
Program:
subtract(600.2, 620.0), divide(#0, 620.0)
Program (Nested):
divide(subtract(600.2, 620.0), 620.0)
| finqa573 |
what was the percentage change in investment banking fees from 2005 to 2006?
Important information:
table_1: year ended december 31 ( in millions ) the investment banking fees of 2007 is $ 6635 ; the investment banking fees of 2006 is $ 5520 ; the investment banking fees of 2005 is $ 4088 ;
table_11: year ended december 31 ( in millions ) the total net revenue of 2007 is $ 71372 ; the total net revenue of 2006 is $ 61999 ; the total net revenue of 2005 is $ 54248 ;
text_8: investment banking fees grew in 2007 to a level higher than the pre- vious record set in 2006 .
Reasoning Steps:
Step: minus1-1(5520, 4088) = 1432
Step: divide1-2(#0, 4088) = 35%
Program:
subtract(5520, 4088), divide(#0, 4088)
Program (Nested):
divide(subtract(5520, 4088), 4088)
| 0.35029 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
jpmorgan chase & co . / 2007 annual report 31 the following section provides a comparative discussion of jpmorgan chase 2019s consolidated results of operations on a reported basis for the three-year period ended december 31 , 2007 . factors that relate primarily to a single business segment are discussed in more detail within that business segment than they are in this consolidated sec- tion . for a discussion of the critical accounting estimates used by the firm that affect the consolidated results of operations , see pages 96 201398 of this annual report . revenue .
Table
year ended december 31 ( in millions ) | 2007 | 2006 | 2005
investment banking fees | $ 6635 | $ 5520 | $ 4088
principal transactions | 9015 | 10778 | 8072
lending & deposit-related fees | 3938 | 3468 | 3389
asset management administration and commissions | 14356 | 11855 | 9988
securities gains ( losses ) | 164 | -543 ( 543 ) | -1336 ( 1336 )
mortgage fees and related income | 2118 | 591 | 1054
credit card income | 6911 | 6913 | 6754
other income | 1829 | 2175 | 2684
noninterest revenue | 44966 | 40757 | 34693
net interest income | 26406 | 21242 | 19555
total net revenue | $ 71372 | $ 61999 | $ 54248
2007 compared with 2006 total net revenue of $ 71.4 billion was up $ 9.4 billion , or 15% ( 15 % ) , from the prior year . higher net interest income , very strong private equity gains , record asset management , administration and commissions revenue , higher mortgage fees and related income and record investment banking fees contributed to the revenue growth . these increases were offset partially by lower trading revenue . investment banking fees grew in 2007 to a level higher than the pre- vious record set in 2006 . record advisory and equity underwriting fees drove the results , partially offset by lower debt underwriting fees . for a further discussion of investment banking fees , which are primarily recorded in ib , see the ib segment results on pages 40 201342 of this annual report . principal transactions revenue consists of trading revenue and private equity gains . trading revenue declined significantly from the 2006 level , primarily due to markdowns in ib of $ 1.4 billion ( net of hedges ) on subprime positions , including subprime cdos , and $ 1.3 billion ( net of fees ) on leveraged lending funded loans and unfunded commitments . also in ib , markdowns in securitized products on nonsubprime mortgages and weak credit trading performance more than offset record revenue in currencies and strong revenue in both rates and equities . equities benefited from strong client activity and record trading results across all products . ib 2019s credit portfolio results increased compared with the prior year , primarily driven by higher revenue from risk management activities . the increase in private equity gains from 2006 reflected a significantly higher level of gains , the classification of certain private equity carried interest as compensation expense and a fair value adjustment in the first quarter of 2007 on nonpublic private equity investments resulting from the adoption of sfas 157 ( 201cfair value measurements 201d ) . for a further discussion of principal transactions revenue , see the ib and corporate segment results on pages 40 201342 and 59 201360 , respectively , and note 6 on page 122 of this annual report . lending & deposit-related fees rose from the 2006 level , driven pri- marily by higher deposit-related fees and the bank of new york transaction . for a further discussion of lending & deposit-related fees , which are mostly recorded in rfs , tss and cb , see the rfs segment results on pages 43 201348 , the tss segment results on pages 54 201355 , and the cb segment results on pages 52 201353 of this annual report . asset management , administration and commissions revenue reached a level higher than the previous record set in 2006 . increased assets under management and higher performance and placement fees in am drove the record results . the 18% ( 18 % ) growth in assets under management from year-end 2006 came from net asset inflows and market appreciation across all segments : institutional , retail , private bank and private client services . tss also contributed to the rise in asset management , administration and commissions revenue , driven by increased product usage by new and existing clients and market appreciation on assets under custody . finally , commissions revenue increased , due mainly to higher brokerage transaction volume ( primarily included within fixed income and equity markets revenue of ib ) , which more than offset the sale of the insurance business by rfs in the third quarter of 2006 and a charge in the first quarter of 2007 resulting from accelerated surrenders of customer annuities . for additional information on these fees and commissions , see the segment discussions for ib on pages 40 201342 , rfs on pages 43 201348 , tss on pages 54 201355 , and am on pages 56 201358 , of this annual report . the favorable variance resulting from securities gains in 2007 compared with securities losses in 2006 was primarily driven by improvements in the results of repositioning of the treasury invest- ment securities portfolio . also contributing to the positive variance was a $ 234 million gain from the sale of mastercard shares . for a fur- ther discussion of securities gains ( losses ) , which are mostly recorded in the firm 2019s treasury business , see the corporate segment discussion on pages 59 201360 of this annual report . consol idated results of operat ions .
Question:
what was the percentage change in investment banking fees from 2005 to 2006?
Important information:
table_1: year ended december 31 ( in millions ) the investment banking fees of 2007 is $ 6635 ; the investment banking fees of 2006 is $ 5520 ; the investment banking fees of 2005 is $ 4088 ;
table_11: year ended december 31 ( in millions ) the total net revenue of 2007 is $ 71372 ; the total net revenue of 2006 is $ 61999 ; the total net revenue of 2005 is $ 54248 ;
text_8: investment banking fees grew in 2007 to a level higher than the pre- vious record set in 2006 .
Reasoning Steps:
Step: minus1-1(5520, 4088) = 1432
Step: divide1-2(#0, 4088) = 35%
Program:
subtract(5520, 4088), divide(#0, 4088)
Program (Nested):
divide(subtract(5520, 4088), 4088)
| finqa574 |
what percent decrease for interest income occurred between 2014 and 2015?
Important information:
text_8: increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
table_1: as of december 31, the 2015 of increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates is $ -33.7 ( 33.7 ) ; the 2015 of increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates is $ 34.7 ;
text_13: during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively .
Reasoning Steps:
Step: minus1-1(27.4, 22.8) = 4.6
Step: divide1-2(#0, 27.4) = 0.1679
Step: multiply1-3(#1, const_100) = 16.79
Program:
subtract(27.4, 22.8), divide(#0, 27.4), multiply(#1, const_100)
Program (Nested):
multiply(divide(subtract(27.4, 22.8), 27.4), const_100)
| 16.78832 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
item 7a . quantitative and qualitative disclosures about market risk ( amounts in millions ) in the normal course of business , we are exposed to market risks related to interest rates , foreign currency rates and certain balance sheet items . from time to time , we use derivative instruments , pursuant to established guidelines and policies , to manage some portion of these risks . derivative instruments utilized in our hedging activities are viewed as risk management tools and are not used for trading or speculative purposes . interest rates our exposure to market risk for changes in interest rates relates primarily to the fair market value and cash flows of our debt obligations . the majority of our debt ( approximately 89% ( 89 % ) and 91% ( 91 % ) as of december 31 , 2015 and 2014 , respectively ) bears interest at fixed rates . we do have debt with variable interest rates , but a 10% ( 10 % ) increase or decrease in interest rates would not be material to our interest expense or cash flows . the fair market value of our debt is sensitive to changes in interest rates , and the impact of a 10% ( 10 % ) change in interest rates is summarized below . increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
Table
as of december 31, | increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates | increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates
2015 | $ -33.7 ( 33.7 ) | $ 34.7
2014 | -35.5 ( 35.5 ) | 36.6
we have used interest rate swaps for risk management purposes to manage our exposure to changes in interest rates . we do not have any interest rate swaps outstanding as of december 31 , 2015 . we had $ 1509.7 of cash , cash equivalents and marketable securities as of december 31 , 2015 that we generally invest in conservative , short-term bank deposits or securities . the interest income generated from these investments is subject to both domestic and foreign interest rate movements . during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively . based on our 2015 results , a 100-basis-point increase or decrease in interest rates would affect our interest income by approximately $ 15.0 , assuming that all cash , cash equivalents and marketable securities are impacted in the same manner and balances remain constant from year-end 2015 levels . foreign currency rates we are subject to translation and transaction risks related to changes in foreign currency exchange rates . since we report revenues and expenses in u.s . dollars , changes in exchange rates may either positively or negatively affect our consolidated revenues and expenses ( as expressed in u.s . dollars ) from foreign operations . the primary foreign currencies that impacted our results during 2015 included the australian dollar , brazilian real , british pound sterling and euro . based on 2015 exchange rates and operating results , if the u.s . dollar were to strengthen or weaken by 10% ( 10 % ) , we currently estimate operating income would decrease or increase approximately 4% ( 4 % ) , assuming that all currencies are impacted in the same manner and our international revenue and expenses remain constant at 2015 levels . the functional currency of our foreign operations is generally their respective local currency . assets and liabilities are translated at the exchange rates in effect at the balance sheet date , and revenues and expenses are translated at the average exchange rates during the period presented . the resulting translation adjustments are recorded as a component of accumulated other comprehensive loss , net of tax , in the stockholders 2019 equity section of our consolidated balance sheets . our foreign subsidiaries generally collect revenues and pay expenses in their functional currency , mitigating transaction risk . however , certain subsidiaries may enter into transactions in currencies other than their functional currency . assets and liabilities denominated in currencies other than the functional currency are susceptible to movements in foreign currency until final settlement . currency transaction gains or losses primarily arising from transactions in currencies other than the functional currency are included in office and general expenses . we regularly review our foreign exchange exposures that may have a material impact on our business and from time to time use foreign currency forward exchange contracts or other derivative financial instruments to hedge the effects of potential adverse fluctuations in foreign currency exchange rates arising from these exposures . we do not enter into foreign exchange contracts or other derivatives for speculative purposes. .
Question:
what percent decrease for interest income occurred between 2014 and 2015?
Important information:
text_8: increase/ ( decrease ) in fair market value as of december 31 , 10% ( 10 % ) increase in interest rates 10% ( 10 % ) decrease in interest rates .
table_1: as of december 31, the 2015 of increase/ ( decrease ) in fair market value 10% ( 10 % ) increasein interest rates is $ -33.7 ( 33.7 ) ; the 2015 of increase/ ( decrease ) in fair market value 10% ( 10 % ) decreasein interest rates is $ 34.7 ;
text_13: during 2015 and 2014 , we had interest income of $ 22.8 and $ 27.4 , respectively .
Reasoning Steps:
Step: minus1-1(27.4, 22.8) = 4.6
Step: divide1-2(#0, 27.4) = 0.1679
Step: multiply1-3(#1, const_100) = 16.79
Program:
subtract(27.4, 22.8), divide(#0, 27.4), multiply(#1, const_100)
Program (Nested):
multiply(divide(subtract(27.4, 22.8), 27.4), const_100)
| finqa575 |
at december 31 , 2015 what was the net change from december 31 , 2014 on alll on total purchased impaired loans in billions?
Important information:
text_0: during 2015 , $ 82 million of provision recapture was recorded for purchased impaired loans compared to $ 91 million of provision recapture during 2014 .
text_2: at december 31 , 2015 and december 31 , 2014 , the alll on total purchased impaired loans was $ .3 billion and $ .9 billion , respectively .
table_5: in millions the december 31 of 2015 is $ 1250 ; the december 31 of 2014 is $ 1558 ;
Reasoning Steps:
Step: minus1-1(.3, .9) = -.6
Program:
subtract(.3, .9)
Program (Nested):
subtract(.3, .9)
| -0.6 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
during 2015 , $ 82 million of provision recapture was recorded for purchased impaired loans compared to $ 91 million of provision recapture during 2014 . charge-offs ( which were specifically for commercial loans greater than a defined threshold ) during 2015 were $ 12 million compared to $ 42 million during 2014 . at december 31 , 2015 and december 31 , 2014 , the alll on total purchased impaired loans was $ .3 billion and $ .9 billion , respectively . the decline in alll was primarily due to the change in our derecognition policy . for purchased impaired loan pools where an allowance has been recognized , subsequent increases in the net present value of cash flows will result in a provision recapture of any previously recorded alll to the extent applicable , and/or a reclassification from non-accretable difference to accretable yield , which will be recognized prospectively . individual loan transactions where final dispositions have occurred ( as noted above ) result in removal of the loans from their applicable pools for cash flow estimation purposes . the cash flow re- estimation process is completed quarterly to evaluate the appropriateness of the alll associated with the purchased impaired loans . activity for the accretable yield during 2015 and 2014 follows : table 66 : purchased impaired loans 2013 accretable yield .
Table
in millions | 2015 | 2014
january 1 | $ 1558 | $ 2055
accretion ( including excess cash recoveries ) | -466 ( 466 ) | -587 ( 587 )
net reclassifications to accretable from non-accretable | 226 | 208
disposals | -68 ( 68 ) | -118 ( 118 )
december 31 | $ 1250 | $ 1558
note 5 allowances for loan and lease losses and unfunded loan commitments and letters of credit allowance for loan and lease losses we maintain the alll at levels that we believe to be appropriate to absorb estimated probable credit losses incurred in the portfolios as of the balance sheet date . we use the two main portfolio segments 2013 commercial lending and consumer lending 2013 and develop and document the alll under separate methodologies for each of these segments as discussed in note 1 accounting policies . a rollforward of the alll and associated loan data follows . the pnc financial services group , inc . 2013 form 10-k 141 .
Question:
at december 31 , 2015 what was the net change from december 31 , 2014 on alll on total purchased impaired loans in billions?
Important information:
text_0: during 2015 , $ 82 million of provision recapture was recorded for purchased impaired loans compared to $ 91 million of provision recapture during 2014 .
text_2: at december 31 , 2015 and december 31 , 2014 , the alll on total purchased impaired loans was $ .3 billion and $ .9 billion , respectively .
table_5: in millions the december 31 of 2015 is $ 1250 ; the december 31 of 2014 is $ 1558 ;
Reasoning Steps:
Step: minus1-1(.3, .9) = -.6
Program:
subtract(.3, .9)
Program (Nested):
subtract(.3, .9)
| finqa576 |
in millions , what is the total impact on the change in net revenue from the reserve equalization , the purchased power capacity , and the transmission revenue?
Important information:
table_2: the reserve equalization of amount ( in millions ) is 14.3 ;
table_3: the purchased power capacity of amount ( in millions ) is 12.4 ;
table_4: the transmission revenue of amount ( in millions ) is 7.0 ;
Reasoning Steps:
Step: add1-1(14.3, 12.4) = 26.7
Step: add1-2(#0, const_7) = 33.7
Program:
add(14.3, 12.4), add(#0, const_7)
Program (Nested):
add(add(14.3, 12.4), const_7)
| 33.7 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 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 . 2015 compared to 2014 net income decreased $ 5.2 million primarily due to the asset write-off of its receivable associated with the spindletop gas storage facility and higher other operation and maintenance expenses , partially offset by higher net revenue and a lower effective tax rate . net revenue 2016 compared to 2015 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 2016 to 2015 . amount ( in millions ) .
Table
| amount ( in millions )
2015 net revenue | $ 637.2
reserve equalization | 14.3
purchased power capacity | 12.4
transmission revenue | 7.0
retail electric price | 5.4
net wholesale | -27.8 ( 27.8 )
other | -4.3 ( 4.3 )
2016 net revenue | $ 644.2
the reserve equalization variance is primarily due to a reduction in reserve equalization expense primarily due to changes in the entergy system generation mix compared to the same period in 2015 as a result of the execution of a new purchased power agreement and entergy mississippi 2019s exit from the system agreement , each in november 2015 , and 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 . the purchased power capacity variance is primarily due to decreased expenses due to the termination of the purchased power agreements between entergy louisiana and entergy texas in august 2016 , as well as capacity cost changes for ongoing purchased power capacity contracts . the transmission revenue variance is primarily due to an increase in attachment o rates charged by miso to transmission customers and a settlement of attachment o rates previously billed to transmission customers by miso. .
Question:
in millions , what is the total impact on the change in net revenue from the reserve equalization , the purchased power capacity , and the transmission revenue?
Important information:
table_2: the reserve equalization of amount ( in millions ) is 14.3 ;
table_3: the purchased power capacity of amount ( in millions ) is 12.4 ;
table_4: the transmission revenue of amount ( in millions ) is 7.0 ;
Reasoning Steps:
Step: add1-1(14.3, 12.4) = 26.7
Step: add1-2(#0, const_7) = 33.7
Program:
add(14.3, 12.4), add(#0, const_7)
Program (Nested):
add(add(14.3, 12.4), const_7)
| finqa577 |
what was the lowest amount of research and development credit net in the three year period , in millions?
Important information:
text_0: notes to consolidated financial statements ( continued ) note 6 2014income taxes ( continued ) a reconciliation of the provision for income taxes , with the amount computed by applying the statutory federal income tax rate ( 35% ( 35 % ) in 2005 , 2004 , and 2003 ) to income before provision for income taxes , is as follows ( in millions ) : .
table_5: the research and development credit net of 2005 is -26 ( 26 ) ; the research and development credit net of 2004 is -5 ( 5 ) ; the research and development credit net of 2003 is -7 ( 7 ) ;
text_13: under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock. .
Reasoning Steps:
Step: min2-1(research and development credit net, none) = -26
Program:
table_min(research and development credit net, none)
Program (Nested):
table_min(research and development credit net, none)
| -26.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
notes to consolidated financial statements ( continued ) note 6 2014income taxes ( continued ) a reconciliation of the provision for income taxes , with the amount computed by applying the statutory federal income tax rate ( 35% ( 35 % ) in 2005 , 2004 , and 2003 ) to income before provision for income taxes , is as follows ( in millions ) : .
Table
| 2005 | 2004 | 2003
computed expected tax | $ 636 | $ 134 | $ 32
state taxes net of federal effect | -19 ( 19 ) | -5 ( 5 ) | -4 ( 4 )
indefinitely invested earnings of foreign subsidiaries | -98 ( 98 ) | -31 ( 31 ) | -13 ( 13 )
nondeductible executive compensation | 11 | 10 | 5
research and development credit net | -26 ( 26 ) | -5 ( 5 ) | -7 ( 7 )
other items | -24 ( 24 ) | 4 | 11
provision for income taxes | $ 480 | $ 107 | $ 24
effective tax rate | 26% ( 26 % ) | 28% ( 28 % ) | 26% ( 26 % )
during 2005 , the company reversed certain tax contingency reserves and recorded a corresponding benefit to income tax expense primarily as a result of a change in the estimated outcome of certain tax disputes . additionally , during the fourth quarter of 2005 , the company recorded a benefit to tax expense to adjust its net deferred tax assets as a result of the company 2019s year-end review of its deferred tax accounts , the impact of which was not material to the current or prior periods 2019 results of operations . the total benefit to income tax expense from the reversal of these tax contingency reserves and adjustments to net deferred tax assets was $ 67 million . the company also recorded a $ 14 million credit to income tax expense resulting from a reduction of the valuation allowance . the internal revenue service ( irs ) has completed its field audit of the company 2019s federal income tax returns for all years prior to 2002 and proposed certain adjustments . certain of these adjustments are being contested through the irs appeals office . substantially all irs audit issues for these years have been resolved . in addition , the company is also subject to audits by state , local , and foreign tax authorities . management believes that adequate provisions have been made for any adjustments that may result from tax examinations . however , the outcome of tax audits cannot be predicted with certainty . should any issues addressed in the company 2019s tax audits be resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income tax in the period such resolution occurs . note 7 2014shareholders 2019 equity preferred stock the company has 5 million shares of authorized preferred stock , none of which is outstanding . under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock. .
Question:
what was the lowest amount of research and development credit net in the three year period , in millions?
Important information:
text_0: notes to consolidated financial statements ( continued ) note 6 2014income taxes ( continued ) a reconciliation of the provision for income taxes , with the amount computed by applying the statutory federal income tax rate ( 35% ( 35 % ) in 2005 , 2004 , and 2003 ) to income before provision for income taxes , is as follows ( in millions ) : .
table_5: the research and development credit net of 2005 is -26 ( 26 ) ; the research and development credit net of 2004 is -5 ( 5 ) ; the research and development credit net of 2003 is -7 ( 7 ) ;
text_13: under the terms of the company 2019s restated articles of incorporation , the board of directors is authorized to determine or alter the rights , preferences , privileges and restrictions of the company 2019s authorized but unissued shares of preferred stock. .
Reasoning Steps:
Step: min2-1(research and development credit net, none) = -26
Program:
table_min(research and development credit net, none)
Program (Nested):
table_min(research and development credit net, none)
| finqa578 |
by how much did contingent rental liability decrease from 2007 to 2009?
Important information:
table_1: ( in millions ) the minimum rental ( a ) of 2009 is $ 238 ; the minimum rental ( a ) of 2008 is $ 245 ; the minimum rental ( a ) of 2007 is $ 209 ;
table_2: ( in millions ) the contingent rental of 2009 is 19 ; the contingent rental of 2008 is 22 ; the contingent rental of 2007 is 33 ;
table_3: ( in millions ) the net rental expense of 2009 is $ 257 ; the net rental expense of 2008 is $ 267 ; the net rental expense of 2007 is $ 242 ;
Reasoning Steps:
Step: minus2-1(19, 33) = -14
Step: divide2-2(#0, 33) = -42.4%
Program:
subtract(19, 33), divide(#0, 33)
Program (Nested):
divide(subtract(19, 33), 33)
| -0.42424 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
marathon oil corporation notes to consolidated financial statements of the $ 446 million present value of net minimum capital lease payments , $ 53 million was related to obligations assumed by united states steel under the financial matters agreement . operating lease rental expense was : ( in millions ) 2009 2008 2007 minimum rental ( a ) $ 238 $ 245 $ 209 .
Table
( in millions ) | 2009 | 2008 | 2007
minimum rental ( a ) | $ 238 | $ 245 | $ 209
contingent rental | 19 | 22 | 33
net rental expense | $ 257 | $ 267 | $ 242
( a ) excludes $ 3 million , $ 5 million and $ 8 million paid by united states steel in 2009 , 2008 and 2007 on assumed leases . 26 . commitments and contingencies we are the subject of , or party to , a number of pending or threatened legal actions , contingencies and commitments involving a variety of matters , including laws and regulations relating to the environment . certain of these matters are discussed below . the ultimate resolution of these contingencies could , individually or in the aggregate , be material to our consolidated financial statements . however , management believes that we will remain a viable and competitive enterprise even though it is possible that these contingencies could be resolved unfavorably . environmental matters 2013 we are subject to federal , state , local and foreign laws and regulations relating to the environment . these laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites . penalties may be imposed for noncompliance . at december 31 , 2009 and 2008 , accrued liabilities for remediation totaled $ 116 million and $ 111 million . it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed . receivables for recoverable costs from certain states , under programs to assist companies in clean-up efforts related to underground storage tanks at retail marketing outlets , were $ 59 and $ 60 million at december 31 , 2009 and 2008 . legal cases 2013 we , along with other refining companies , settled a number of lawsuits pertaining to methyl tertiary-butyl ether ( 201cmtbe 201d ) in 2008 . presently , we are a defendant , along with other refining companies , in 27 cases arising in four states alleging damages for mtbe contamination . like the cases that we settled in 2008 , 12 of the remaining cases are consolidated in a multi-district litigation ( 201cmdl 201d ) in the southern district of new york for pretrial proceedings . the other 15 cases are in new york state courts ( nassau and suffolk counties ) . plaintiffs in 26 of the 27 cases allege damages to water supply wells from contamination of groundwater by mtbe , similar to the damages claimed in the cases settled in 2008 . in the remaining case , the new jersey department of environmental protection is seeking the cost of remediating mtbe contamination and natural resources damages allegedly resulting from contamination of groundwater by mtbe . we are vigorously defending these cases . we have engaged in settlement discussions related to the majority of these cases . we do not expect our share of liability for these cases to significantly impact our consolidated results of operations , financial position or cash flows . we voluntarily discontinued producing mtbe in 2002 . we are currently a party to one qui tam case , which alleges that marathon and other defendants violated the false claims act with respect to the reporting and payment of royalties on natural gas and natural gas liquids for federal and indian leases . a qui tam action is an action in which the relator files suit on behalf of himself as well as the federal government . the case currently pending is u.s . ex rel harrold e . wright v . agip petroleum co . et al . it is primarily a gas valuation case . marathon has reached a settlement with the relator and the doj which will be finalized after the indian tribes review and approve the settlement terms . such settlement is not expected to significantly impact our consolidated results of operations , financial position or cash flows . guarantees 2013 we have provided certain guarantees , direct and indirect , of the indebtedness of other companies . under the terms of most of these guarantee arrangements , we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements . in addition to these financial guarantees , we also have various performance guarantees related to specific agreements. .
Question:
by how much did contingent rental liability decrease from 2007 to 2009?
Important information:
table_1: ( in millions ) the minimum rental ( a ) of 2009 is $ 238 ; the minimum rental ( a ) of 2008 is $ 245 ; the minimum rental ( a ) of 2007 is $ 209 ;
table_2: ( in millions ) the contingent rental of 2009 is 19 ; the contingent rental of 2008 is 22 ; the contingent rental of 2007 is 33 ;
table_3: ( in millions ) the net rental expense of 2009 is $ 257 ; the net rental expense of 2008 is $ 267 ; the net rental expense of 2007 is $ 242 ;
Reasoning Steps:
Step: minus2-1(19, 33) = -14
Step: divide2-2(#0, 33) = -42.4%
Program:
subtract(19, 33), divide(#0, 33)
Program (Nested):
divide(subtract(19, 33), 33)
| finqa579 |
what is the percentual increase in the operating expenses during 2017 and 2018?
Important information:
text_18: pension plan .
text_25: pension expense .
table_1: the pension expense 2013 continuing operations of 2018 is $ 91.8 ; the pension expense 2013 continuing operations of 2017 is $ 72.0 ; the pension expense 2013 continuing operations of 2016 is $ 55.8 ;
Reasoning Steps:
Step: divide2-1(91.8, 72.0) = 1.275
Step: minus2-2(#0, const_1) = 27.5%
Program:
divide(91.8, 72.0), subtract(#0, const_1)
Program (Nested):
subtract(divide(91.8, 72.0), const_1)
| 0.275 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
income tax liabilities tax liabilities related to unrecognized tax benefits as of 30 september 2018 were $ 233.6 . these tax liabilities were excluded from the contractual obligations table as it is impractical to determine a cash impact by year given that payments will vary according to changes in tax laws , tax rates , and our operating results . in addition , there are uncertainties in timing of the effective settlement of our uncertain tax positions with respective taxing authorities . however , the contractual obligations table above includes our accrued liability of approximately $ 184 for deemed repatriation tax that is payable over eight years related to the tax act . refer to note 22 , income taxes , to the consolidated financial statements for additional information . obligation for future contribution to an equity affiliate on 19 april 2015 , a joint venture between air products and acwa holding entered into a 20-year oxygen and nitrogen supply agreement to supply saudi aramco 2019s oil refinery and power plant being built in jazan , saudi arabia . air products owns 25% ( 25 % ) of the joint venture and guarantees the repayment of its share of an equity bridge loan . in total , we expect to invest approximately $ 100 in this joint venture . as of 30 september 2018 , we recorded a noncurrent liability of $ 94.4 for our obligation to make future equity contributions in 2020 based on our proportionate share of the advances received by the joint venture under the loan . expected investment in joint venture on 12 august 2018 , air products entered an agreement to form a gasification/power joint venture ( "jv" ) with saudi aramco and acwa in jazan , saudi arabia . air products will own at least 55% ( 55 % ) of the jv , with saudi aramco and acwa power owning the balance . the jv will purchase the gasification assets , power block , and the associated utilities from saudi aramco for approximately $ 8 billion . our expected investment has been excluded from the contractual obligations table above pending closing , which is currently expected in fiscal year 2020 . the jv will own and operate the facility under a 25-year contract for a fixed monthly fee . saudi aramco will supply feedstock to the jv , and the jv will produce power , hydrogen and other utilities for saudi aramco . pension benefits the company and certain of its subsidiaries sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of its worldwide employees . the principal defined benefit pension plans are the u.s . salaried pension plan and the u.k . pension plan . these plans were closed to new participants in 2005 , after which defined contribution plans were offered to new employees . the shift to defined contribution plans is expected to continue to reduce volatility of both plan expense and contributions . the fair market value of plan assets for our defined benefit pension plans as of the 30 september 2018 measurement date decreased to $ 4273.1 from $ 4409.2 at the end of fiscal year 2017 . the projected benefit obligation for these plans was $ 4583.3 and $ 5107.2 at the end of fiscal years 2018 and 2017 , respectively . the net unfunded liability decreased $ 387.8 from $ 698.0 to $ 310.2 , primarily due to higher discount rates and favorable asset experience . refer to note 16 , retirement benefits , to the consolidated financial statements for comprehensive and detailed disclosures on our postretirement benefits . pension expense .
Table
| 2018 | 2017 | 2016
pension expense 2013 continuing operations | $ 91.8 | $ 72.0 | $ 55.8
settlements termination benefits and curtailments ( included above ) | 48.9 | 15.0 | 6.0
weighted average discount rate 2013 service cost | 3.2% ( 3.2 % ) | 2.9% ( 2.9 % ) | 4.1% ( 4.1 % )
weighted average discount rate 2013 interest cost | 2.9% ( 2.9 % ) | 2.5% ( 2.5 % ) | 3.4% ( 3.4 % )
weighted average expected rate of return on plan assets | 6.9% ( 6.9 % ) | 7.4% ( 7.4 % ) | 7.5% ( 7.5 % )
weighted average expected rate of compensation increase | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % ) | 3.5% ( 3.5 % )
.
Question:
what is the percentual increase in the operating expenses during 2017 and 2018?
Important information:
text_18: pension plan .
text_25: pension expense .
table_1: the pension expense 2013 continuing operations of 2018 is $ 91.8 ; the pension expense 2013 continuing operations of 2017 is $ 72.0 ; the pension expense 2013 continuing operations of 2016 is $ 55.8 ;
Reasoning Steps:
Step: divide2-1(91.8, 72.0) = 1.275
Step: minus2-2(#0, const_1) = 27.5%
Program:
divide(91.8, 72.0), subtract(#0, const_1)
Program (Nested):
subtract(divide(91.8, 72.0), const_1)
| finqa580 |
what was the percentage change in raw materials and supplies between 2017 and 2018?
Important information:
table_3: the raw materials and supplies of 2018 is 506.5 ; the raw materials and supplies of 2017 is 488.8 ;
table_4: the total ( approximates replacement cost ) of 2018 is 4122.8 ; the total ( approximates replacement cost ) of 2017 is 4397.9 ;
table_6: the inventories of 2018 is $ 4111.8 ; the inventories of 2017 is $ 4458.3 ;
Reasoning Steps:
Step: minus2-1(506.5, 488.8) = 17.7
Step: divide2-2(#0, 488.8) = 4%
Program:
subtract(506.5, 488.8), divide(#0, 488.8)
Program (Nested):
divide(subtract(506.5, 488.8), 488.8)
| 0.03621 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
note 6 : inventories we use the last-in , first-out ( lifo ) method for the majority of our inventories located in the continental u.s . other inventories are valued by the first-in , first-out ( fifo ) method . fifo cost approximates current replacement cost . inventories measured using lifo must be valued at the lower of cost or market . inventories measured using fifo must be valued at the lower of cost or net realizable value . inventories at december 31 consisted of the following: .
Table
| 2018 | 2017
finished products | $ 988.1 | $ 1211.4
work in process | 2628.2 | 2697.7
raw materials and supplies | 506.5 | 488.8
total ( approximates replacement cost ) | 4122.8 | 4397.9
increase ( reduction ) to lifo cost | -11.0 ( 11.0 ) | 60.4
inventories | $ 4111.8 | $ 4458.3
inventories valued under the lifo method comprised $ 1.57 billion and $ 1.56 billion of total inventories at december 31 , 2018 and 2017 , respectively . note 7 : financial instruments financial instruments that potentially subject us to credit risk consist principally of trade receivables and interest- bearing investments . wholesale distributors of life-science products account for a substantial portion of our trade receivables ; collateral is generally not required . we seek to mitigate the risk associated with this concentration through our ongoing credit-review procedures and insurance . a large portion of our cash is held by a few major financial institutions . we monitor our exposures with these institutions and do not expect any of these institutions to fail to meet their obligations . major financial institutions represent the largest component of our investments in corporate debt securities . in accordance with documented corporate risk-management policies , we monitor the amount of credit exposure to any one financial institution or corporate issuer . we are exposed to credit-related losses in the event of nonperformance by counterparties to risk-management instruments but do not expect any counterparties to fail to meet their obligations given their high credit ratings . we consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash equivalents . the cost of these investments approximates fair value . our equity investments are accounted for using three different methods depending on the type of equity investment : 2022 investments in companies over which we have significant influence but not a controlling interest are accounted for using the equity method , with our share of earnings or losses reported in other-net , ( income ) expense . 2022 for equity investments that do not have readily determinable fair values , we measure these investments at cost , less any impairment , plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer . any change in recorded value is recorded in other-net , ( income ) expense . 2022 our public equity investments are measured and carried at fair value . any change in fair value is recognized in other-net , ( income ) expense . we review equity investments other than public equity investments for indications of impairment on a regular basis . our derivative activities are initiated within the guidelines of documented corporate risk-management policies and are intended to offset losses and gains on the assets , liabilities , and transactions being hedged . management reviews the correlation and effectiveness of our derivatives on a quarterly basis. .
Question:
what was the percentage change in raw materials and supplies between 2017 and 2018?
Important information:
table_3: the raw materials and supplies of 2018 is 506.5 ; the raw materials and supplies of 2017 is 488.8 ;
table_4: the total ( approximates replacement cost ) of 2018 is 4122.8 ; the total ( approximates replacement cost ) of 2017 is 4397.9 ;
table_6: the inventories of 2018 is $ 4111.8 ; the inventories of 2017 is $ 4458.3 ;
Reasoning Steps:
Step: minus2-1(506.5, 488.8) = 17.7
Step: divide2-2(#0, 488.8) = 4%
Program:
subtract(506.5, 488.8), divide(#0, 488.8)
Program (Nested):
divide(subtract(506.5, 488.8), 488.8)
| finqa581 |
what was the change in the total long-term debt net from 2014 to 2015 in millions
Important information:
table_5: the total long-term debt of 2015 is 16296 ; the total long-term debt of 2014 is 7041 ;
table_7: the total long-term debt net of 2015 is $ 15261 ; the total long-term debt net of 2014 is $ 6142 ;
text_12: we received net proceeds of $ 6.9 billion from the offering , after deducting discounts and debt issuance costs , which are being amortized as interest expense over the life of the debt .
Reasoning Steps:
Step: minus1-1(15261, 6142) = 9119
Program:
subtract(15261, 6142)
Program (Nested):
subtract(15261, 6142)
| 9119.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
note 10 2013 debt our long-term debt consisted of the following ( in millions ) : .
Table
| 2015 | 2014
notes with rates from 1.85% ( 1.85 % ) to 3.80% ( 3.80 % ) due 2016 to 2045 | $ 8150 | $ 1400
notes with rates from 4.07% ( 4.07 % ) to 5.72% ( 5.72 % ) due 2019 to 2046 | 6089 | 3589
notes with rates from 6.15% ( 6.15 % ) to 9.13% ( 9.13 % ) due 2016 to 2036 | 1941 | 1941
other debt | 116 | 111
total long-term debt | 16296 | 7041
less : unamortized discounts and deferred financing costs | -1035 ( 1035 ) | -899 ( 899 )
total long-term debt net | $ 15261 | $ 6142
revolving credit facilities on october 9 , 2015 , we entered into a new $ 2.5 billion revolving credit facility ( the 5-year facility ) with various banks and concurrently terminated our existing $ 1.5 billion revolving credit facility , which was scheduled to expire in august 2019 . the 5-year facility , which expires on october 9 , 2020 , is available for general corporate purposes . the undrawn portion of the 5-year facility is also available to serve as a backup facility for the issuance of commercial paper . we may request and the banks may grant , at their discretion , an increase in the borrowing capacity under the 5-year facility of up to an additional $ 500 million . there were no borrowings outstanding under the 5-year facility as of and during the year ended december 31 , in contemplation of our acquisition of sikorsky , on october 9 , 2015 , we also entered into a 364-day revolving credit facility ( the 364-day facility , and together with the 5-year facility , the facilities ) with various banks that provided $ 7.0 billion of funding for general corporate purposes , including the acquisition of sikorsky . concurrent with the consummation of the sikorsky acquisition , we borrowed $ 6.0 billion under the 364-day facility . on november 23 , 2015 , we repaid all outstanding borrowings under the 364-day facility with proceeds received from an issuance of new debt ( see below ) and terminated any remaining commitments of the lenders under the 364-day facility . borrowings under the facilities bear interest at rates based , at our option , on a eurodollar rate or a base rate , as defined in the facilities 2019 agreements . each bank 2019s obligation to make loans under the 5-year facility is subject to , among other things , our compliance with various representations , warranties , and covenants , including covenants limiting our ability and certain of our subsidiaries 2019 ability to encumber assets and a covenant not to exceed a maximum leverage ratio , as defined in the five-year facility agreement . as of december 31 , 2015 , we were in compliance with all covenants contained in the 5-year facility agreement , as well as in our debt agreements . long-term debt on november 23 , 2015 , we issued $ 7.0 billion of notes ( the november 2015 notes ) in a registered public offering . we received net proceeds of $ 6.9 billion from the offering , after deducting discounts and debt issuance costs , which are being amortized as interest expense over the life of the debt . the november 2015 notes consist of : 2022 $ 750 million maturing in 2018 with a fixed interest rate of 1.85% ( 1.85 % ) ( the 2018 notes ) ; 2022 $ 1.25 billion maturing in 2020 with a fixed interest rate of 2.50% ( 2.50 % ) ( the 2020 notes ) ; 2022 $ 500 million maturing in 2023 with a fixed interest rate of 3.10% ( 3.10 % ) the 2023 notes ) ; 2022 $ 2.0 billion maturing in 2026 with a fixed interest rate of 3.55% ( 3.55 % ) ( the 2026 notes ) ; 2022 $ 500 million maturing in 2036 with a fixed interest rate of 4.50% ( 4.50 % ) ( the 2036 notes ) ; and 2022 $ 2.0 billion maturing in 2046 with a fixed interest rate of 4.70% ( 4.70 % ) ( the 2046 notes ) . we may , at our option , redeem some or all of the november 2015 notes and unpaid interest at any time by paying the principal amount of notes being redeemed plus any make-whole premium and accrued and unpaid interest to the date of redemption . interest is payable on the 2018 notes and the 2020 notes on may 23 and november 23 of each year , beginning on may 23 , 2016 ; on the 2023 notes and the 2026 notes on january 15 and july 15 of each year , beginning on july 15 , 2016 ; and on the 2036 notes and the 2046 notes on may 15 and november 15 of each year , beginning on may 15 , 2016 . the november 2015 notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness . the proceeds of the november 2015 notes were used to repay $ 6.0 billion of borrowings under our 364-day facility and for general corporate purposes. .
Question:
what was the change in the total long-term debt net from 2014 to 2015 in millions
Important information:
table_5: the total long-term debt of 2015 is 16296 ; the total long-term debt of 2014 is 7041 ;
table_7: the total long-term debt net of 2015 is $ 15261 ; the total long-term debt net of 2014 is $ 6142 ;
text_12: we received net proceeds of $ 6.9 billion from the offering , after deducting discounts and debt issuance costs , which are being amortized as interest expense over the life of the debt .
Reasoning Steps:
Step: minus1-1(15261, 6142) = 9119
Program:
subtract(15261, 6142)
Program (Nested):
subtract(15261, 6142)
| finqa582 |
how many directors can be elected by the class b-1 and class b-2 shareholders?
Important information:
table_4: ( in thousands ) the class b-2 common stock authorized issued and outstanding of december 31 , 2017 is 0.8 ; the class b-2 common stock authorized issued and outstanding of december 31 , 2016 is 0.8 ;
text_26: holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .
text_27: the remaining directors are elected by the class a and class b shareholders voting as a single class. .
Reasoning Steps:
Step: add1-1(const_3, const_2) = 5
Program:
add(const_3, const_2)
Program (Nested):
add(const_3, const_2)
| 5.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
14 . capital stock shares outstanding . the following table presents information regarding capital stock: .
Table
( in thousands ) | december 31 , 2017 | december 31 , 2016
class a common stock authorized | 1000000 | 1000000
class a common stock issued and outstanding | 339235 | 338240
class b-1 common stock authorized issued and outstanding | 0.6 | 0.6
class b-2 common stock authorized issued and outstanding | 0.8 | 0.8
class b-3 common stock authorized issued and outstanding | 1.3 | 1.3
class b-4 common stock authorized issued and outstanding | 0.4 | 0.4
cme group has no shares of preferred stock issued and outstanding . associated trading rights . members of cme , cbot , nymex and comex own or lease trading rights which entitle them to access open outcry trading , discounts on trading fees and the right to vote on certain exchange matters as provided for by the rules of the particular exchange and cme group 2019s or the subsidiaries 2019 organizational documents . each class of cme group class b common stock is associated with a membership in a specific division for trading at cme . a cme trading right is a separate asset that is not part of or evidenced by the associated share of class b common stock of cme group . the class b common stock of cme group is intended only to ensure that the class b shareholders of cme group retain rights with respect to representation on the board of directors and approval rights with respect to the core rights described below . trading rights at cbot are evidenced by class b memberships in cbot , at nymex by class a memberships in nymex and at comex by comex division memberships . members of cbot , nymex and comex do not have any rights to elect members of the board of directors and are not entitled to receive dividends or other distributions on their memberships or trading permits . core rights . holders of cme group class b common shares have the right to approve changes in specified rights relating to the trading privileges at cme associated with those shares . these core rights relate primarily to trading right protections , certain trading fee protections and certain membership benefit protections . votes on changes to these core rights are weighted by class . each class of class b common stock has the following number of votes on matters relating to core rights : class b-1 , six votes per share ; class b-2 , two votes per share ; class b-3 , one vote per share ; and class b-4 , 1/6th of one vote per share . the approval of a majority of the votes cast by the holders of shares of class b common stock is required in order to approve any changes to core rights . holders of shares of class a common stock do not have the right to vote on changes to core rights . voting rights . with the exception of the matters reserved to holders of cme group class b common stock , holders of cme group common stock vote together on all matters for which a vote of common shareholders is required . in these votes , each holder of shares of class a or class b common stock of cme group has one vote per share . transfer restrictions . each class of cme group class b common stock is subject to transfer restrictions contained in the certificate of incorporation of cme group . these transfer restrictions prohibit the sale or transfer of any shares of class b common stock separate from the sale of the associated trading rights . election of directors . the cme group board of directors is currently comprised of 20 members . holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders . the remaining directors are elected by the class a and class b shareholders voting as a single class. .
Question:
how many directors can be elected by the class b-1 and class b-2 shareholders?
Important information:
table_4: ( in thousands ) the class b-2 common stock authorized issued and outstanding of december 31 , 2017 is 0.8 ; the class b-2 common stock authorized issued and outstanding of december 31 , 2016 is 0.8 ;
text_26: holders of class b-1 , class b-2 and class b-3 common stock have the right to elect six directors , of which three are elected by class b-1 shareholders , two are elected by class b-2 shareholders and one is elected by class b-3 shareholders .
text_27: the remaining directors are elected by the class a and class b shareholders voting as a single class. .
Reasoning Steps:
Step: add1-1(const_3, const_2) = 5
Program:
add(const_3, const_2)
Program (Nested):
add(const_3, const_2)
| finqa583 |
by what percentage did the average wti crude oil benchmark decrease from 2007 to 2009?
Important information:
text_19: prices in 2009 were also lower than in recent years as illustrated by the annual averages for key benchmark prices below. .
table_1: benchmark the wti crude oil ( dollars per barrel ) of 2009 is $ 62.09 ; the wti crude oil ( dollars per barrel ) of 2008 is $ 99.75 ; the wti crude oil ( dollars per barrel ) of 2007 is $ 72.41 ;
table_2: benchmark the dated brent crude oil ( dollars per barrel ) of 2009 is $ 61.67 ; the dated brent crude oil ( dollars per barrel ) of 2008 is $ 97.26 ; the dated brent crude oil ( dollars per barrel ) of 2007 is $ 72.39 ;
Reasoning Steps:
Step: minus1-1(62.09, 72.41) = -10.32
Step: divide1-2(#0, 72.41) = -14.3%
Program:
subtract(62.09, 72.41), divide(#0, 72.41)
Program (Nested):
divide(subtract(62.09, 72.41), 72.41)
| -0.14252 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
item 7 . management 2019s discussion and analysis of financial condition and results of operations we are a global integrated energy company with significant operations in the north america , africa and europe . our operations are organized into four reportable segments : 2022 exploration and production ( 201ce&p 201d ) which explores for , produces and markets liquid hydrocarbons and natural gas on a worldwide basis . 2022 oil sands mining ( 201cosm 201d ) which mines , extracts and transports bitumen from oil sands deposits in alberta , canada , and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas 2022 integrated gas ( 201cig 201d ) which markets and transports products manufactured from natural gas , such as liquefied natural gas ( 201clng 201d ) and methanol , on a worldwide basis . 2022 refining , marketing & transportation ( 201crm&t 201d ) which refines , markets and transports crude oil and petroleum products , primarily in the midwest , upper great plains , gulf coast and southeastern regions of the united states . certain sections of management 2019s discussion and analysis of financial condition and results of operations include forward-looking statements concerning trends or events potentially affecting our business . these statements typically contain words such as 201canticipates , 201d 201cbelieves , 201d 201cestimates , 201d 201cexpects , 201d 201ctargets , 201d 201cplans , 201d 201cprojects , 201d 201ccould , 201d 201cmay , 201d 201cshould , 201d 201cwould 201d or similar words indicating that future outcomes are uncertain . in accordance with 201csafe harbor 201d provisions of the private securities litigation reform act of 1995 , these statements are accompanied by cautionary language identifying important factors , though not necessarily all such factors , which could cause future outcomes to differ materially from those set forth in the forward-looking statements . we hold a 60 percent interest in equatorial guinea lng holdings limited ( 201cegholdings 201d ) . as discussed in note 4 to the consolidated financial statements , effective may 1 , 2007 , we ceased consolidating egholdings . our investment is accounted for using the equity method of accounting . unless specifically noted , amounts presented for the integrated gas segment for periods prior to may 1 , 2007 , include amounts related to the minority interests . management 2019s discussion and analysis of financial condition and results of operations should be read in conjunction with the information under item 1 . business , item 1a . risk factors , item 6 . selected financial data and item 8 . financial statements and supplementary data . overview exploration and production prevailing prices for the various grades of crude oil and natural gas that we produce significantly impact our revenues and cash flows . prices were volatile in 2009 , but not as much as in the previous year . prices in 2009 were also lower than in recent years as illustrated by the annual averages for key benchmark prices below. .
Table
benchmark | 2009 | 2008 | 2007
wti crude oil ( dollars per barrel ) | $ 62.09 | $ 99.75 | $ 72.41
dated brent crude oil ( dollars per barrel ) | $ 61.67 | $ 97.26 | $ 72.39
henry hub natural gas ( dollars per mcf ) ( a ) | $ 3.99 | $ 9.04 | $ 6.86
henry hub natural gas ( dollars per mcf ) ( a ) $ 3.99 $ 9.04 $ 6.86 ( a ) first-of-month price index . crude oil prices rose sharply through the first half of 2008 as a result of strong global demand , a declining dollar , ongoing concerns about supplies of crude oil , and geopolitical risk . later in 2008 , crude oil prices sharply declined as the u.s . dollar rebounded and global demand decreased as a result of economic recession . the price decrease continued into 2009 , but reversed after dropping below $ 33.98 in february , ending the year at $ 79.36 . our domestic crude oil production is about 62 percent sour , which means that it contains more sulfur than light sweet wti does . sour crude oil also tends to be heavier than light sweet crude oil and sells at a discount to light sweet crude oil because of higher refining costs and lower refined product values . our international crude oil production is relatively sweet and is generally sold in relation to the dated brent crude benchmark . the differential between wti and dated brent average prices narrowed to $ 0.42 in 2009 compared to $ 2.49 in 2008 and $ 0.02 in 2007. .
Question:
by what percentage did the average wti crude oil benchmark decrease from 2007 to 2009?
Important information:
text_19: prices in 2009 were also lower than in recent years as illustrated by the annual averages for key benchmark prices below. .
table_1: benchmark the wti crude oil ( dollars per barrel ) of 2009 is $ 62.09 ; the wti crude oil ( dollars per barrel ) of 2008 is $ 99.75 ; the wti crude oil ( dollars per barrel ) of 2007 is $ 72.41 ;
table_2: benchmark the dated brent crude oil ( dollars per barrel ) of 2009 is $ 61.67 ; the dated brent crude oil ( dollars per barrel ) of 2008 is $ 97.26 ; the dated brent crude oil ( dollars per barrel ) of 2007 is $ 72.39 ;
Reasoning Steps:
Step: minus1-1(62.09, 72.41) = -10.32
Step: divide1-2(#0, 72.41) = -14.3%
Program:
subtract(62.09, 72.41), divide(#0, 72.41)
Program (Nested):
divide(subtract(62.09, 72.41), 72.41)
| finqa584 |
what is the change in the balance of liability for restructuring 2003 program from 2006 to 2008 , ( in millions ) ?
Important information:
table_1: the liability at december 31 2006 of 2007 program is $ 2014 ; the liability at december 31 2006 of 2003 program is $ 12.6 ; the liability at december 31 2006 of 2001 program is $ 19.2 ; the liability at december 31 2006 of total is $ 31.8 ;
table_4: the liability at december 31 2007 of 2007 program is $ 11.9 ; the liability at december 31 2007 of 2003 program is $ 9.0 ; the liability at december 31 2007 of 2001 program is $ 8.7 ; the liability at december 31 2007 of total is $ 29.6 ;
table_7: the liability at december 31 2008 of 2007 program is $ 1.2 ; the liability at december 31 2008 of 2003 program is $ 5.7 ; the liability at december 31 2008 of 2001 program is $ 5.9 ; the liability at december 31 2008 of total is $ 12.8 ;
Reasoning Steps:
Step: minus1-1(5.7, 12.6) = -6.9
Program:
subtract(5.7, 12.6)
Program (Nested):
subtract(5.7, 12.6)
| -6.9 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) a summary of the remaining liability for the 2007 , 2003 and 2001 restructuring programs is as follows : program program program total .
Table
| 2007 program | 2003 program | 2001 program | total
liability at december 31 2006 | $ 2014 | $ 12.6 | $ 19.2 | $ 31.8
net charges ( reversals ) and adjustments | 19.1 | -0.5 ( 0.5 ) | -5.2 ( 5.2 ) | 13.4
payments and other1 | -7.2 ( 7.2 ) | -3.1 ( 3.1 ) | -5.3 ( 5.3 ) | -15.6 ( 15.6 )
liability at december 31 2007 | $ 11.9 | $ 9.0 | $ 8.7 | $ 29.6
net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8
payments and other1 | -15.0 ( 15.0 ) | -4.1 ( 4.1 ) | -3.5 ( 3.5 ) | -22.6 ( 22.6 )
liability at december 31 2008 | $ 1.2 | $ 5.7 | $ 5.9 | $ 12.8
1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates . other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote , cone and belding worldwide to create draftfcb . charges related to severance and terminations costs and lease termination and other exit costs . we expect charges associated with mediabrands to be completed during the first half of 2009 . charges related to the creation of draftfcb in 2006 are complete . the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business. .
Question:
what is the change in the balance of liability for restructuring 2003 program from 2006 to 2008 , ( in millions ) ?
Important information:
table_1: the liability at december 31 2006 of 2007 program is $ 2014 ; the liability at december 31 2006 of 2003 program is $ 12.6 ; the liability at december 31 2006 of 2001 program is $ 19.2 ; the liability at december 31 2006 of total is $ 31.8 ;
table_4: the liability at december 31 2007 of 2007 program is $ 11.9 ; the liability at december 31 2007 of 2003 program is $ 9.0 ; the liability at december 31 2007 of 2001 program is $ 8.7 ; the liability at december 31 2007 of total is $ 29.6 ;
table_7: the liability at december 31 2008 of 2007 program is $ 1.2 ; the liability at december 31 2008 of 2003 program is $ 5.7 ; the liability at december 31 2008 of 2001 program is $ 5.9 ; the liability at december 31 2008 of total is $ 12.8 ;
Reasoning Steps:
Step: minus1-1(5.7, 12.6) = -6.9
Program:
subtract(5.7, 12.6)
Program (Nested):
subtract(5.7, 12.6)
| finqa585 |
what is the value , in millions of dollars , of the total issuable stock in 2014?
Important information:
text_4: in addition , annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .
table_3: the expected volatility of 2016 is 33% ( 33 % ) ; the expected volatility of 2015 is 30% ( 30 % ) ; the expected volatility of 2014 is 31% ( 31 % ) ;
table_5: the fair value per share of 2016 is $ 31.00 ; the fair value per share of 2015 is $ 18.13 ; the fair value per share of 2014 is $ 11.75 ;
Reasoning Steps:
Step: multiply1-1(13.8, 11.75) = 162.15
Program:
multiply(13.8, 11.75)
Program (Nested):
multiply(13.8, 11.75)
| 162.15 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
edwards lifesciences corporation notes to consolidated financial statements ( continued ) 13 . common stock ( continued ) the company also maintains the nonemployee directors stock incentive compensation program ( the 2018 2018nonemployee directors program 2019 2019 ) . under the nonemployee directors program , upon a director 2019s initial election to the board , the director receives an initial grant of stock options or restricted stock units equal to a fair market value on grant date of $ 0.2 million , not to exceed 20000 shares . these grants vest over three years from the date of grant , subject to the director 2019s continued service . in addition , annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million . these grants generally vest over one year from the date of grant . under the nonemployee directors program , an aggregate of 2.8 million shares of the company 2019s common stock has been authorized for issuance . the company has an employee stock purchase plan for united states employees and a plan for international employees ( collectively 2018 2018espp 2019 2019 ) . under the espp , eligible employees may purchase shares of the company 2019s common stock at 85% ( 85 % ) of the lower of the fair market value of edwards lifesciences common stock on the effective date of subscription or the date of purchase . under the espp , employees can authorize the company to withhold up to 12% ( 12 % ) of their compensation for common stock purchases , subject to certain limitations . the espp is available to all active employees of the company paid from the united states payroll and to eligible employees of the company outside the united states , to the extent permitted by local law . the espp for united states employees is qualified under section 423 of the internal revenue code . the number of shares of common stock authorized for issuance under the espp was 13.8 million shares . the fair value of each option award and employee stock purchase subscription is estimated on the date of grant using the black-scholes option valuation model that uses the assumptions noted in the following tables . the risk-free interest rate is estimated using the u.s . treasury yield curve and is based on the expected term of the award . expected volatility is estimated based on a blend of the weighted-average of the historical volatility of edwards lifesciences 2019 stock and the implied volatility from traded options on edwards lifesciences 2019 stock . the expected term of awards granted is estimated from the vesting period of the award , as well as historical exercise behavior , and represents the period of time that awards granted are expected to be outstanding . the company uses historical data to estimate forfeitures and has estimated an annual forfeiture rate of 6.0% ( 6.0 % ) . the black-scholes option pricing model was used with the following weighted-average assumptions for options granted during the following periods : option awards .
Table
| 2016 | 2015 | 2014
average risk-free interest rate | 1.1% ( 1.1 % ) | 1.4% ( 1.4 % ) | 1.5% ( 1.5 % )
expected dividend yield | none | none | none
expected volatility | 33% ( 33 % ) | 30% ( 30 % ) | 31% ( 31 % )
expected life ( years ) | 4.5 | 4.6 | 4.6
fair value per share | $ 31.00 | $ 18.13 | $ 11.75
.
Question:
what is the value , in millions of dollars , of the total issuable stock in 2014?
Important information:
text_4: in addition , annually each nonemployee director may receive up to 40000 stock options or 16000 restricted stock units of the company 2019s common stock , or a combination thereof , provided that in no event may the total value of the combined annual award exceed $ 0.2 million .
table_3: the expected volatility of 2016 is 33% ( 33 % ) ; the expected volatility of 2015 is 30% ( 30 % ) ; the expected volatility of 2014 is 31% ( 31 % ) ;
table_5: the fair value per share of 2016 is $ 31.00 ; the fair value per share of 2015 is $ 18.13 ; the fair value per share of 2014 is $ 11.75 ;
Reasoning Steps:
Step: multiply1-1(13.8, 11.75) = 162.15
Program:
multiply(13.8, 11.75)
Program (Nested):
multiply(13.8, 11.75)
| finqa586 |
what was the percentage change of the net favorable prior period development from 2010 to 2008
Important information:
table_3: the prior period development of 2010 is 4.6% ( 4.6 % ) ; the prior period development of 2009 is 4.9% ( 4.9 % ) ; the prior period development of 2008 is 6.8% ( 6.8 % ) ;
text_7: this compares with net favorable prior period development in our p&c segments of $ 576 million and $ 814 million in 2009 and 2008 , respectively .
text_28: prior period development the favorable prior period development , inclusive of the life segment , of $ 512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements .
Reasoning Steps:
Step: minus1-1(503, 814) = -311
Step: divide1-2(#0, 814) = 38.2%
Program:
subtract(503, 814), divide(#0, 814)
Program (Nested):
divide(subtract(503, 814), 814)
| -0.38206 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated. .
Table
| 2010 | 2009 | 2008
loss and loss expense ratio as reported | 59.2% ( 59.2 % ) | 58.8% ( 58.8 % ) | 60.6% ( 60.6 % )
catastrophe losses and related reinstatement premiums | ( 3.2 ) % ( % ) | ( 1.2 ) % ( % ) | ( 4.7 ) % ( % )
prior period development | 4.6% ( 4.6 % ) | 4.9% ( 4.9 % ) | 6.8% ( 6.8 % )
large assumed loss portfolio transfers | ( 0.3 ) % ( % ) | ( 0.8 ) % ( % ) | 0.0% ( 0.0 % )
loss and loss expense ratio adjusted | 60.3% ( 60.3 % ) | 61.7% ( 61.7 % ) | 62.7% ( 62.7 % )
we recorded net pre-tax catastrophe losses of $ 366 million in 2010 compared with net pre-tax catastrophe losses of $ 137 million and $ 567 million in 2009 and 2008 , respectively . the catastrophe losses for 2010 were primarily related to weather- related events in the u.s. , earthquakes in chile , mexico , and new zealand , and storms in australia and europe . the catastrophe losses for 2009 were primarily related to an earthquake in asia , floods in europe , several weather-related events in the u.s. , and a european windstorm . for 2008 , the catastrophe losses were primarily related to hurricanes gustav and ike . prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premium from pre- vious accident years . we experienced $ 503 million of net favorable prior period development in our p&c segments in 2010 . this compares with net favorable prior period development in our p&c segments of $ 576 million and $ 814 million in 2009 and 2008 , respectively . refer to 201cprior period development 201d for more information . the adjusted loss and loss expense ratio declined in 2010 , compared with 2009 , primarily due to the impact of the crop settlements , non-recurring premium adjustment and the reduction in assumed loss portfolio business , which is written at higher loss ratios than other types of business . our policy acquisition costs include commissions , premium taxes , underwriting , and other costs that vary with , and are primarily related to , the production of premium . administrative expenses include all other operating costs . our policy acquis- ition cost ratio increased in 2010 , compared with 2009 . the increase was primarily related to the impact of crop settlements , which generated higher profit-share commissions and a lower adjustment to net premiums earned , as well as the impact of reinstatement premiums expensed in connection with catastrophe activity and changes in business mix . our administrative expense ratio increased in 2010 , primarily due to the impact of the crop settlements , reinstatement premiums expensed , and increased costs in our international operations . although the crop settlements generate minimal administrative expenses , they resulted in lower adjustment to net premiums earned in 2010 , compared with 2009 . administrative expenses in 2010 , were partially offset by higher net results generated by our third party claims administration business , esis , the results of which are included within our administrative expenses . esis generated $ 85 million in net results in 2010 , compared with $ 26 million in 2009 . the increase is primarily from non-recurring sources . our policy acquisition cost ratio was stable in 2009 , compared with 2008 , as increases in our combined insurance operations were offset by more favorable final crop year settlement of profit share commissions . administrative expenses increased in 2009 , primarily due to the inclusion of administrative expenses related to combined insurance for the full year and costs associated with new product expansion in our domestic retail operation and in our personal lines business . our effective income tax rate , which we calculate as income tax expense divided by income before income tax , is depend- ent upon the mix of earnings from different jurisdictions with various tax rates . a change in the geographic mix of earnings would change the effective income tax rate . our effective income tax rate was 15 percent in 2010 , compared with 17 percent and 24 percent in 2009 and 2008 , respectively . the decrease in our effective income tax rate in 2010 , was primarily due to a change in the mix of earnings to lower tax-paying jurisdictions , a decrease in the amount of unrecognized tax benefits which was the result of a settlement with the u.s . internal revenue service appeals division regarding federal tax returns for the years 2002-2004 , and the recognition of a non-taxable gain related to the acquisition of rain and hail . the 2009 year included a reduction of a deferred tax valuation allowance related to investments . for 2008 , our effective income tax rate was adversely impacted by a change in mix of earnings due to the impact of catastrophe losses in lower tax-paying jurisdictions . prior period development the favorable prior period development , inclusive of the life segment , of $ 512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements . with respect to ace 2019s crop business , ace regularly receives reports from its managing general agent ( mga ) relating to the previous crop year ( s ) in subsequent calendar quarters and this typically results .
Question:
what was the percentage change of the net favorable prior period development from 2010 to 2008
Important information:
table_3: the prior period development of 2010 is 4.6% ( 4.6 % ) ; the prior period development of 2009 is 4.9% ( 4.9 % ) ; the prior period development of 2008 is 6.8% ( 6.8 % ) ;
text_7: this compares with net favorable prior period development in our p&c segments of $ 576 million and $ 814 million in 2009 and 2008 , respectively .
text_28: prior period development the favorable prior period development , inclusive of the life segment , of $ 512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements .
Reasoning Steps:
Step: minus1-1(503, 814) = -311
Step: divide1-2(#0, 814) = 38.2%
Program:
subtract(503, 814), divide(#0, 814)
Program (Nested):
divide(subtract(503, 814), 814)
| finqa587 |
what was the change in ssa 2019s revenues from the sale of non-petroleum merchandise in 2004 , compared with in 2003 , in billions?
Important information:
text_5: completion of the projects is scheduled for the fourth quarter of 2005 .
table_7: ( thousands of barrels per day ) the total of 2004 is 1400 ; the total of 2003 is 1357 ; the total of 2002 is 1318 ;
text_21: as of december 31 , 2004 , ssa had 1669 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 2018 2018speedway 2019 2019 and 2018 2018superamerica . 2019 2019 ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.3 billion in 2004 , compared with $ 2.2 billion in 2003 .
Reasoning Steps:
Step: minus1-1(2.3, 2.2) = 0.1
Program:
subtract(2.3, 2.2)
Program (Nested):
subtract(2.3, 2.2)
| 0.1 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the catlettsburg refinery multi-year improvement project was completed during early 2004 . at a cost of approximately $ 440 million , the project improves product yields and lowers overall refinery costs while making gasoline with less than 30 parts per million of sulfur , which allows map to meet tier ii gasoline regulations which became effective on january 1 , 2004 . map is constructing approximately $ 300 million in new capital projects for its 74000 bpd detroit , michigan refinery . one of the projects , a $ 110 million expansion project , is expected to raise the crude oil capacity at the refinery by 35 percent to 100000 bpd . other projects are expected to enable the refinery to produce new clean fuels and further control regulated air emissions . completion of the projects is scheduled for the fourth quarter of 2005 . marketing in 2004 map 2019s refined product sales volumes ( excluding matching buy/sell transactions ) totaled 20.4 billion gallons ( 1329000 bpd ) . the wholesale distribution of petroleum products to private brand marketers and to large commercial and industrial consumers , primarily located in the midwest , the upper great plains and the southeast , and sales in the spot market , accounted for approximately 70 percent of map 2019s refined product sales volumes in 2004 , excluding sales related to matching buy/sell transactions . approximately 52 percent of map 2019s gasoline sales volumes and 92 percent of its distillate sales volumes were sold on a wholesale or spot market basis to independent unbranded customers or other wholesalers in 2004 . approximately 55 percent of map 2019s propane is sold into the home heating markets and industrial consumers purchase the balance . propylene , cumene , aromatics , aliphatics , and sulfur are marketed to customers in the chemical industry . base lube oils and slack wax are sold throughout the united states . pitch is also sold domestically , but approximately 16 percent of pitch products are exported into growing markets in canada , mexico , india and south america . map markets asphalt through owned and leased terminals throughout the midwest , the upper great plains and the southeast . the map customer base includes approximately 800 asphalt-paving contractors , government entities ( states , counties , cities and townships ) and asphalt roofing shingle manufacturers . the following table sets forth the volume of map 2019s consolidated refined product sales by product group for each of the last three years : refined product sales ( thousands of barrels per day ) 2004 2003 2002 .
Table
( thousands of barrels per day ) | 2004 | 2003 | 2002
gasoline | 807 | 776 | 773
distillates | 373 | 365 | 346
propane | 22 | 21 | 22
feedstocks and special products | 92 | 97 | 82
heavy fuel oil | 27 | 24 | 20
asphalt | 79 | 74 | 75
total | 1400 | 1357 | 1318
matching buy/sell volumes included in above | 71 | 64 | 71
map sells reformulated gasoline in parts of its marketing territory , primarily chicago , illinois ; louisville , kentucky ; northern kentucky ; and milwaukee , wisconsin . map also sells low-vapor-pressure gasoline in nine states . as of december 31 , 2004 , map supplied petroleum products to about 3900 marathon and ashland branded retail outlets located primarily in michigan , ohio , indiana , kentucky and illinois . branded retail outlets are also located in florida , georgia , wisconsin , west virginia , tennessee , minnesota , virginia , pennsylvania , north carolina , alabama , and south carolina . ssa sells gasoline and diesel fuel through company-operated retail outlets . as of december 31 , 2004 , ssa had 1669 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 2018 2018speedway 2019 2019 and 2018 2018superamerica . 2019 2019 ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.3 billion in 2004 , compared with $ 2.2 billion in 2003 . profit levels from the sale of such merchandise and services tend to be less volatile than profit levels from the retail sale of gasoline and diesel fuel . pilot travel centers llc ( 2018 2018ptc 2019 2019 ) , a joint venture with pilot corporation ( 2018 2018pilot 2019 2019 ) , is the largest operator of travel centers in the united states with approximately 250 locations in 35 states at december 31 , 2004 . the travel centers .
Question:
what was the change in ssa 2019s revenues from the sale of non-petroleum merchandise in 2004 , compared with in 2003 , in billions?
Important information:
text_5: completion of the projects is scheduled for the fourth quarter of 2005 .
table_7: ( thousands of barrels per day ) the total of 2004 is 1400 ; the total of 2003 is 1357 ; the total of 2002 is 1318 ;
text_21: as of december 31 , 2004 , ssa had 1669 retail outlets in nine states that sold petroleum products and convenience store merchandise and services , primarily under the brand names 2018 2018speedway 2019 2019 and 2018 2018superamerica . 2019 2019 ssa 2019s revenues from the sale of non-petroleum merchandise totaled $ 2.3 billion in 2004 , compared with $ 2.2 billion in 2003 .
Reasoning Steps:
Step: minus1-1(2.3, 2.2) = 0.1
Program:
subtract(2.3, 2.2)
Program (Nested):
subtract(2.3, 2.2)
| finqa588 |
what portion of the total purchase consideration is allocated to goodwill?
Important information:
table_3: cash the trade name of $ 45826 is 2901 ;
table_8: cash the goodwill of $ 45826 is 203828 ;
table_9: cash the total purchase consideration of $ 45826 is $ 265982 ;
Reasoning Steps:
Step: divide2-1(203828, 265982) = 76.6%
Program:
divide(203828, 265982)
Program (Nested):
divide(203828, 265982)
| 0.76632 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed , including a reconciliation to the total purchase consideration , are as follows ( in thousands ) : .
Table
cash | $ 45826
customer-related intangible assets | 42721
acquired technology | 27954
trade name | 2901
other assets | 2337
deferred income tax assets ( liabilities ) | -9788 ( 9788 )
other liabilities | -49797 ( 49797 )
total identifiable net assets | 62154
goodwill | 203828
total purchase consideration | $ 265982
goodwill of $ 203.8 million arising from the acquisition , included in the asia-pacific segment , was attributable to expected growth opportunities in australia and new zealand , as well as growth opportunities and operating synergies in integrated payments in our existing asia-pacific and north america markets . goodwill associated with this acquisition is not deductible for income tax purposes . the customer-related intangible assets have an estimated amortization period of 15 years . the acquired technology has an estimated amortization period of 15 years . the trade name has an estimated amortization period of 5 years . note 3 2014 settlement processing assets and obligations funds settlement refers to the process of transferring funds for sales and credits between card issuers and merchants . for transactions processed on our systems , we use our internal network to provide funding instructions to financial institutions that in turn fund the merchants . we process funds settlement under two models , a sponsorship model and a direct membership model . under the sponsorship model , we are designated as a merchant service provider by mastercard and an independent sales organization by visa , which means that member clearing banks ( 201cmember 201d ) sponsor us and require our adherence to the standards of the payment networks . in certain markets , we have sponsorship or depository and clearing agreements with financial institution sponsors . these agreements allow us to route transactions under the members 2019 control and identification numbers to clear credit card transactions through mastercard and visa . in this model , the standards of the payment networks restrict us from performing funds settlement or accessing merchant settlement funds , and , instead , require that these funds be in the possession of the member until the merchant is funded . under the direct membership model , we are members in various payment networks , allowing us to process and fund transactions without third-party sponsorship . in this model , we route and clear transactions directly through the card brand 2019s network and are not restricted from performing funds settlement . otherwise , we process these transactions similarly to how we process transactions in the sponsorship model . we are required to adhere to the standards of the payment networks in which we are direct members . we maintain relationships with financial institutions , which may also serve as our member sponsors for other card brands or in other markets , to assist with funds settlement . timing differences , interchange fees , merchant reserves and exception items cause differences between the amount received from the payment networks and the amount funded to the merchants . these intermediary balances arising in our settlement process for direct merchants are reflected as settlement processing assets and obligations on our consolidated balance sheets . settlement processing assets and obligations include the components outlined below : 2022 interchange reimbursement . our receivable from merchants for the portion of the discount fee related to reimbursement of the interchange fee . global payments inc . | 2017 form 10-k annual report 2013 77 .
Question:
what portion of the total purchase consideration is allocated to goodwill?
Important information:
table_3: cash the trade name of $ 45826 is 2901 ;
table_8: cash the goodwill of $ 45826 is 203828 ;
table_9: cash the total purchase consideration of $ 45826 is $ 265982 ;
Reasoning Steps:
Step: divide2-1(203828, 265982) = 76.6%
Program:
divide(203828, 265982)
Program (Nested):
divide(203828, 265982)
| finqa589 |
considering the years 2011-2013 , what is the average capital expenditure on a gaap basis?
Important information:
table_4: the capital expenditures on a gaap basis of 2013 is $ 1747.8 ; the capital expenditures on a gaap basis of 2012 is $ 2559.8 ; the capital expenditures on a gaap basis of 2011 is $ 1365.9 ;
table_7: the capital expenditures on a non-gaap basis of 2013 is $ 1996.7 ; the capital expenditures on a non-gaap basis of 2012 is $ 2778.3 ; the capital expenditures on a non-gaap basis of 2011 is $ 1539.4 ;
text_21: capital expenditures on a gaap basis in 2013 totaled $ 1747.8 , compared to $ 2559.8 in 2012 , resulting in a decrease of $ 812.0 , primarily due to the acquisition of indura s.a .
Reasoning Steps:
Step: average1-1(capital expenditures on a gaap basis, none) = 1891.16
Program:
table_average(capital expenditures on a gaap basis, none)
Program (Nested):
table_average(capital expenditures on a gaap basis, none)
| 1891.16667 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
business restructuring actions , including the settlement of a long-term take-or-pay silane contract . the current year payments were partially offset by a $ 69.7 net increase to accrued liabilities for the current year cost reduction and business restructuring actions . for the year ended 2012 , cash provided by operating activities was $ 1765.1 . income from continuing operations of $ 999.2 reflected the non-cash gain on the previously held equity interest in da nanomaterials of $ 85.9 , the write- down of long-lived assets associated with restructuring and a customer bankruptcy of $ 80.2 , and a non-cash tax benefit of $ 58.3 recognized as a result of the second quarter spanish tax ruling . the working capital accounts were a source of cash of $ 100.1 . the provision for the cost reduction and business restructuring plans resulted in an increase to accrued liabilities of $ 223.9 , partially offset by a use of cash of $ 32.9 for payments made in relation to these plans . for the year ended 2011 , cash provided by operating activities was $ 1710.4 . income from continuing operations of $ 1134.3 reflected the non-cash net loss of $ 48.5 related to the airgas transaction . we also made cash payments of $ 156.2 related to the airgas transaction . the working capital accounts were a use of cash of $ 114.6 , including $ 107.5 for an increase in inventory primarily to support growth in our performance materials business . investing activities for the year ended 30 september 2013 , cash used for investing activities was $ 1697.0 , primarily driven by capital expenditures for plant and equipment and acquisitions . for the year ended 30 september 2012 , cash used for investing activities was $ 2435.2 , primarily driven by capital expenditures for plant and equipment , acquisitions , and investments in unconsolidated affiliates . refer to the capital expenditures section below for additional detail . for the year ended 30 september 2011 , cash used for investing activities was $ 1169.8 , primarily driven by capital expenditures for plant and equipment . we received proceeds of $ 94.7 from the sale of approximately 1.5 million shares of airgas stock . refer to note 6 , airgas transaction , to the consolidated financial statements for additional information regarding this transaction . capital expenditures capital expenditures are detailed in the following table: .
Table
| 2013 | 2012 | 2011
additions to plant and equipment | $ 1524.2 | $ 1521.0 | $ 1309.3
acquisitions less cash acquired | 224.9 | 863.4 | 10.8
investments in and advances to unconsolidated affiliates | -1.3 ( 1.3 ) | 175.4 | 45.8
capital expenditures on a gaap basis | $ 1747.8 | $ 2559.8 | $ 1365.9
capital lease expenditures ( a ) | 234.9 | 212.2 | 173.5
noncurrent liability related to purchase of shares from noncontrolling interests ( a ) | 14.0 | 6.3 | 2014
capital expenditures on a non-gaap basis | $ 1996.7 | $ 2778.3 | $ 1539.4
( a ) we utilize a non-gaap measure in the computation of capital expenditures and include spending associated with facilities accounted for as capital leases and purchases of noncontrolling interests . certain contracts associated with facilities that are built to provide product to a specific customer are required to be accounted for as leases , and such spending is reflected as a use of cash within cash provided by operating activities , if the arrangement qualifies as a capital lease . additionally , the purchase of noncontrolling interests in a subsidiary is accounted for as an equity transaction and will be reflected as a financing activity in the statement of cash flows . the presentation of this non-gaap measure is intended to enhance the usefulness of information by providing a measure that our management uses internally to evaluate and manage our expenditures . capital expenditures on a gaap basis in 2013 totaled $ 1747.8 , compared to $ 2559.8 in 2012 , resulting in a decrease of $ 812.0 , primarily due to the acquisition of indura s.a . in 2012 . additions to plant and equipment are largely in support of the merchant gases and tonnage gases businesses . additions to plant and equipment also included support capital of a routine , ongoing nature , including expenditures for distribution equipment and facility improvements . spending in 2013 included plant and equipment constructed to provide oxygen for coal gasification in china , hydrogen to the global market , and renewable energy in the u.k . in 2013 , we completed three acquisitions with an aggregate cash use , net of cash acquired , of $ 224.9 . in the fourth quarter , we acquired an air separation unit and integrated gases liquefier in guiyang , china . during the third quarter , we acquired epco , the largest independent u.s . producer of liquid carbon dioxide ( co2 ) , and wcg . in 2012 , we acquired a controlling stake in indura s.a . for $ 690 and e.i . dupont de nemours and co. , inc . 2019s 50% ( 50 % ) interest in our joint venture , da nanomaterials for $ 147 . we also purchased a 25% ( 25 % ) equity interest in abdullah hashim industrial gases & equipment co . ltd . ( ahg ) , an unconsolidated affiliate , for $ 155 in the third quarter. .
Question:
considering the years 2011-2013 , what is the average capital expenditure on a gaap basis?
Important information:
table_4: the capital expenditures on a gaap basis of 2013 is $ 1747.8 ; the capital expenditures on a gaap basis of 2012 is $ 2559.8 ; the capital expenditures on a gaap basis of 2011 is $ 1365.9 ;
table_7: the capital expenditures on a non-gaap basis of 2013 is $ 1996.7 ; the capital expenditures on a non-gaap basis of 2012 is $ 2778.3 ; the capital expenditures on a non-gaap basis of 2011 is $ 1539.4 ;
text_21: capital expenditures on a gaap basis in 2013 totaled $ 1747.8 , compared to $ 2559.8 in 2012 , resulting in a decrease of $ 812.0 , primarily due to the acquisition of indura s.a .
Reasoning Steps:
Step: average1-1(capital expenditures on a gaap basis, none) = 1891.16
Program:
table_average(capital expenditures on a gaap basis, none)
Program (Nested):
table_average(capital expenditures on a gaap basis, none)
| finqa590 |
in millions , for 2013 , 2012 , and 2011 , what was average currency hedges?
Important information:
text_5: the table below presents the gains/ ( losses ) from net investment hedging. .
table_1: in millions the currency hedges of year ended december 2013 is $ 150 ; the currency hedges of year ended december 2012 is $ -233 ( 233 ) ; the currency hedges of year ended december 2011 is $ 160 ;
table_2: in millions the foreign currency-denominated debt hedges of year ended december 2013 is 470 ; the foreign currency-denominated debt hedges of year ended december 2012 is 347 ; the foreign currency-denominated debt hedges of year ended december 2011 is -147 ( 147 ) ;
Reasoning Steps:
Step: average2-1(currency hedges, none) = 29
Program:
table_average(currency hedges, none)
Program (Nested):
table_average(currency hedges, none)
| 25.66667 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
notes to consolidated financial statements net investment hedges the firm seeks to reduce the impact of fluctuations in foreign exchange rates on its net investment in certain non- u.s . operations through the use of foreign currency forward contracts and foreign currency-denominated debt . for foreign currency forward contracts designated as hedges , the effectiveness of the hedge is assessed based on the overall changes in the fair value of the forward contracts ( i.e. , based on changes in forward rates ) . for foreign currency-denominated debt designated as a hedge , the effectiveness of the hedge is assessed based on changes in spot rates . for qualifying net investment hedges , the gains or losses on the hedging instruments , to the extent effective , are included in 201ccurrency translation 201d within the consolidated statements of comprehensive income . the table below presents the gains/ ( losses ) from net investment hedging. .
Table
in millions | year ended december 2013 | year ended december 2012 | year ended december 2011
currency hedges | $ 150 | $ -233 ( 233 ) | $ 160
foreign currency-denominated debt hedges | 470 | 347 | -147 ( 147 )
the gain/ ( loss ) related to ineffectiveness was not material for 2013 , 2012 or 2011 . the loss reclassified to earnings from accumulated other comprehensive income was not material for 2013 or 2012 , and was $ 186 million for 2011 . as of december 2013 and december 2012 , the firm had designated $ 1.97 billion and $ 2.77 billion , respectively , of foreign currency-denominated debt , included in 201cunsecured long-term borrowings 201d and 201cunsecured short- term borrowings , 201d as hedges of net investments in non- u.s . subsidiaries . cash flow hedges beginning in the third quarter of 2013 , the firm designated certain commodities-related swap and forward contracts as cash flow hedges . these swap and forward contracts hedge the firm 2019s exposure to the variability in cash flows associated with the forecasted sales of certain energy commodities by one of the firm 2019s consolidated investments . the firm applies a statistical method that utilizes regression analysis when assessing hedge effectiveness . a cash flow hedge is considered highly effective in offsetting changes in forecasted cash flows attributable to the hedged risk when the regression analysis results in a coefficient of determination of 80% ( 80 % ) or greater and a slope between 80% ( 80 % ) and 125% ( 125 % ) . for qualifying cash flow hedges , the gains or losses on derivatives , to the extent effective , are included in 201ccash flow hedges 201d within the consolidated statements of comprehensive income . gains or losses resulting from hedge ineffectiveness are included in 201cother principal transactions 201d in the consolidated statements of earnings . the effective portion of the gains , before taxes , recognized on these cash flow hedges was $ 14 million for 2013 . the gain/ ( loss ) related to hedge ineffectiveness was not material for 2013 . there were no gains/ ( losses ) excluded from the assessment of hedge effectiveness or reclassified to earnings from accumulated other comprehensive income during 2013 . the amounts recorded in 201ccash flow hedges 201d will be reclassified to 201cother principal transactions 201d in the same periods as the corresponding gain or loss on the sale of the hedged energy commodities , which is also recorded in 201cother principal transactions . 201d the firm expects to reclassify $ 5 million of gains , net of taxes , related to cash flow hedges from 201ccash flow hedges 201d to earnings within the next twelve months . the length of time over which the firm is hedging its exposure to the variability in future cash flows for forecasted transactions is approximately two years . 150 goldman sachs 2013 annual report .
Question:
in millions , for 2013 , 2012 , and 2011 , what was average currency hedges?
Important information:
text_5: the table below presents the gains/ ( losses ) from net investment hedging. .
table_1: in millions the currency hedges of year ended december 2013 is $ 150 ; the currency hedges of year ended december 2012 is $ -233 ( 233 ) ; the currency hedges of year ended december 2011 is $ 160 ;
table_2: in millions the foreign currency-denominated debt hedges of year ended december 2013 is 470 ; the foreign currency-denominated debt hedges of year ended december 2012 is 347 ; the foreign currency-denominated debt hedges of year ended december 2011 is -147 ( 147 ) ;
Reasoning Steps:
Step: average2-1(currency hedges, none) = 29
Program:
table_average(currency hedges, none)
Program (Nested):
table_average(currency hedges, none)
| finqa591 |
what was the number of shares outstanding as of december 31 , 2007
Important information:
text_0: as of february 15 , 2008 , there were 138311810 shares of our common stock outstanding held by approximately 2979 stockholders of record .
text_10: stock repurchases the table below summarizes repurchases of our common stock made during the quarter ended december 31 , 2007 : number of shares repurchased ( 1 ) average price per .
table_3: the december 1 through december 31 of number of shares repurchased ( 1 ) is 14669 ; the december 1 through december 31 of average price per share is $ 43.89 ;
Reasoning Steps:
Step: minus2-1(138311810, 14669) = 138297141
Program:
subtract(138311810, 14669)
Program (Nested):
subtract(138311810, 14669)
| 138297141.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
as of february 15 , 2008 , there were 138311810 shares of our common stock outstanding held by approximately 2979 stockholders of record . dividends and distributions we pay regular quarterly dividends to holders of our common stock . on february 13 , 2008 , our board of directors declared the first quarterly installment of our 2008 dividend in the amount of $ 0.5125 per share , payable on march 28 , 2008 to stockholders of record on march 6 , 2008 . we expect to distribute 100% ( 100 % ) or more of our taxable net income to our stockholders for 2008 . our board of directors normally makes decisions regarding the frequency and amount of our dividends on a quarterly basis . because the board considers a number of factors when making these decisions , we cannot assure you that we will maintain the policy stated above . please see 201ccautionary statements 201d and the risk factors included in part i , item 1a of this annual report on form 10-k for a description of other factors that may affect our distribution policy . our stockholders may reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our distribution reinvestment and stock purchase plan , subject to the terms of the plan . see 201cnote 16 2014capital stock 201d of the notes to consolidated financial statements included in part ii , item 8 of this annual report on form 10-k . director and employee stock sales certain of our directors , executive officers and other employees have adopted and may , from time to time in the future , adopt non-discretionary , written trading plans that comply with rule 10b5-1 under the exchange act , or otherwise monetize their equity-based compensation . stock repurchases the table below summarizes repurchases of our common stock made during the quarter ended december 31 , 2007 : number of shares repurchased ( 1 ) average price per .
Table
| number of shares repurchased ( 1 ) | average price per share
october 1 through october 31 | 2014 | 2014
november 1 through november 30 | 2014 | 2014
december 1 through december 31 | 14669 | $ 43.89
( 1 ) repurchases represent shares withheld to pay taxes on the vesting of restricted stock granted to employees. .
Question:
what was the number of shares outstanding as of december 31 , 2007
Important information:
text_0: as of february 15 , 2008 , there were 138311810 shares of our common stock outstanding held by approximately 2979 stockholders of record .
text_10: stock repurchases the table below summarizes repurchases of our common stock made during the quarter ended december 31 , 2007 : number of shares repurchased ( 1 ) average price per .
table_3: the december 1 through december 31 of number of shares repurchased ( 1 ) is 14669 ; the december 1 through december 31 of average price per share is $ 43.89 ;
Reasoning Steps:
Step: minus2-1(138311810, 14669) = 138297141
Program:
subtract(138311810, 14669)
Program (Nested):
subtract(138311810, 14669)
| finqa592 |
what is percentage change in rd&e spendings from 2013 to 2014?
Important information:
text_2: backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) .
table_5: the total of 2013 is $ 2372 ; the total of 2012 is 100% ( 100 % ) ; the total of is $ 1606 ; the total of ( in millions except percentages ) is 100% ( 100 % ) ;
text_18: applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 .
Reasoning Steps:
Step: minus1-1(1.3, 1.2) = 0.1
Step: divide1-2(#0, 1.2) = 8.3%
Program:
subtract(1.3, 1.2), divide(#0, 1.2)
Program (Nested):
divide(subtract(1.3, 1.2), 1.2)
| 0.08333 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
backlog applied manufactures systems to meet demand represented by order backlog and customer commitments . backlog consists of : ( 1 ) orders for which written authorizations have been accepted and assigned shipment dates are within the next 12 months , or shipment has occurred but revenue has not been recognized ; and ( 2 ) contractual service revenue and maintenance fees to be earned within the next 12 months . backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) .
Table
| 2013 | 2012 | | ( in millions except percentages )
silicon systems group | $ 1295 | 55% ( 55 % ) | $ 705 | 44% ( 44 % )
applied global services | 591 | 25% ( 25 % ) | 580 | 36% ( 36 % )
display | 361 | 15% ( 15 % ) | 206 | 13% ( 13 % )
energy and environmental solutions | 125 | 5% ( 5 % ) | 115 | 7% ( 7 % )
total | $ 2372 | 100% ( 100 % ) | $ 1606 | 100% ( 100 % )
applied 2019s backlog on any particular date is not necessarily indicative of actual sales for any future periods , due to the potential for customer changes in delivery schedules or cancellation of orders . customers may delay delivery of products or cancel orders prior to shipment , subject to possible cancellation penalties . delays in delivery schedules and/or a reduction of backlog during any particular period could have a material adverse effect on applied 2019s business and results of operations . manufacturing , raw materials and supplies applied 2019s manufacturing activities consist primarily of assembly , test and integration of various proprietary and commercial parts , components and subassemblies ( collectively , parts ) that are used to manufacture systems . applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries , including the united states , europe , israel , singapore , taiwan , and other countries in asia , and assembly of some systems is completed at customer sites . applied uses numerous vendors , including contract manufacturers , to supply parts and assembly services for the manufacture and support of its products . although applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers , this is not always possible . accordingly , some key parts may be obtained from only a single supplier or a limited group of suppliers . applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by : ( 1 ) selecting and qualifying alternate suppliers for key parts ; ( 2 ) monitoring the financial condition of key suppliers ; ( 3 ) maintaining appropriate inventories of key parts ; ( 4 ) qualifying new parts on a timely basis ; and ( 5 ) locating certain manufacturing operations in close proximity to suppliers and customers . research , development and engineering applied 2019s long-term growth strategy requires continued development of new products . the company 2019s significant investment in research , development and engineering ( rd&e ) has generally enabled it to deliver new products and technologies before the emergence of strong demand , thus allowing customers to incorporate these products into their manufacturing plans at an early stage in the technology selection cycle . applied works closely with its global customers to design systems and processes that meet their planned technical and production requirements . product development and engineering organizations are located primarily in the united states , as well as in europe , israel , taiwan , and china . in addition , applied outsources certain rd&e activities , some of which are performed outside the united states , primarily in india . process support and customer demonstration laboratories are located in the united states , china , taiwan , europe , and israel . applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 . applied has spent an average of 14 percent of net sales in rd&e over the last five years . in addition to rd&e for specific product technologies , applied maintains ongoing programs for automation control systems , materials research , and environmental control that are applicable to its products. .
Question:
what is percentage change in rd&e spendings from 2013 to 2014?
Important information:
text_2: backlog by reportable segment as of october 27 , 2013 and october 28 , 2012 was as follows : 2013 2012 ( in millions , except percentages ) .
table_5: the total of 2013 is $ 2372 ; the total of 2012 is 100% ( 100 % ) ; the total of is $ 1606 ; the total of ( in millions except percentages ) is 100% ( 100 % ) ;
text_18: applied 2019s investments in rd&e for product development and engineering programs to create or improve products and technologies over the last three years were as follows : $ 1.3 billion ( 18 percent of net sales ) in fiscal 2013 , $ 1.2 billion ( 14 percent of net sales ) in fiscal 2012 , and $ 1.1 billion ( 11 percent of net sales ) in fiscal 2011 .
Reasoning Steps:
Step: minus1-1(1.3, 1.2) = 0.1
Step: divide1-2(#0, 1.2) = 8.3%
Program:
subtract(1.3, 1.2), divide(#0, 1.2)
Program (Nested):
divide(subtract(1.3, 1.2), 1.2)
| finqa593 |
what percent of of the total variance in net revenue is attributed to the variance in volume/weather?
Important information:
table_1: the 2010 net revenue of amount ( in millions ) is $ 540.2 ;
table_3: the volume/weather of amount ( in millions ) is 21.3 ;
table_6: the 2011 net revenue of amount ( in millions ) is $ 577.8 ;
Reasoning Steps:
Step: minus2-1(577.8, 540.2) = 37.6
Step: divide2-2(21.3, #0) = 56.6%
Program:
subtract(577.8, 540.2), divide(21.3, #0)
Program (Nested):
divide(21.3, subtract(577.8, 540.2))
| 0.56649 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased by $ 14.6 million primarily due to higher net revenue , partially offset by higher taxes other than income taxes , higher other operation and maintenance expenses , and higher depreciation and amortization expenses . 2010 compared to 2009 net income increased by $ 2.4 million primarily due to higher net revenue and lower interest expense , partially offset by lower other income , higher taxes other than income taxes , and higher other operation and maintenance expenses . net revenue 2011 compared to 2010 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 ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .
Table
| amount ( in millions )
2010 net revenue | $ 540.2
retail electric price | 36.0
volume/weather | 21.3
purchased power capacity | -24.6 ( 24.6 )
other | 4.9
2011 net revenue | $ 577.8
the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 , with an additional increase of $ 9 million beginning may 2011 , as a result of the settlement of the december 2009 rate case . see note 2 to the financial statements for further discussion of the rate case settlement . the volume/weather variance is primarily due to an increase of 721 gwh , or 4.5% ( 4.5 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales compared to last year . usage in the industrial sector increased 8.2% ( 8.2 % ) primarily in the chemicals and refining industries . the purchased power capacity variance is primarily due to price increases for ongoing purchased power capacity and additional capacity purchases. .
Question:
what percent of of the total variance in net revenue is attributed to the variance in volume/weather?
Important information:
table_1: the 2010 net revenue of amount ( in millions ) is $ 540.2 ;
table_3: the volume/weather of amount ( in millions ) is 21.3 ;
table_6: the 2011 net revenue of amount ( in millions ) is $ 577.8 ;
Reasoning Steps:
Step: minus2-1(577.8, 540.2) = 37.6
Step: divide2-2(21.3, #0) = 56.6%
Program:
subtract(577.8, 540.2), divide(21.3, #0)
Program (Nested):
divide(21.3, subtract(577.8, 540.2))
| finqa594 |
in the number of securities to be issued what is the ratio of the stock rights from the 2012 plan to the 2011 plan included in these securities
Important information:
table_3: plan category the total of number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b ) is 448859 ; the total of weighted-average exercise price of outstanding optionswarrants and rights is $ 0.00 ; the total of number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c ) is 4087587 ;
text_5: of these shares , 27123 were stock rights granted under the 2011 plan .
text_6: in addition , this number includes 28763 stock rights , 3075 restricted stock rights , and 389898 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .
Reasoning Steps:
Step: divide2-1(28763, 27123) = 1.06
Program:
divide(28763, 27123)
Program (Nested):
divide(28763, 27123)
| 1.06047 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
equity compensation plan information the following table presents the equity securities available for issuance under our equity compensation plans as of december 31 , 2017 . equity compensation plan information plan category number of securities to be issued upon exercise of outstanding options , warrants and rights ( 1 ) weighted-average exercise price of outstanding options , warrants and rights number of securities remaining available for future issuance under equity compensation plans ( excluding securities reflected in column ( a ) ) ( a ) ( b ) ( c ) equity compensation plans approved by security holders 448859 $ 0.00 4087587 equity compensation plans not approved by security holders ( 2 ) 2014 2014 2014 .
Table
plan category | number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b ) | weighted-average exercise price of outstanding optionswarrants and rights | number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c )
equity compensation plans approved by security holders | 448859 | $ 0.00 | 4087587
equity compensation plans not approved by security holders ( 2 ) | 2014 | 2014 | 2014
total | 448859 | $ 0.00 | 4087587
( 1 ) includes grants made under the huntington ingalls industries , inc . 2012 long-term incentive stock plan ( the "2012 plan" ) , which was approved by our stockholders on may 2 , 2012 , and the huntington ingalls industries , inc . 2011 long-term incentive stock plan ( the "2011 plan" ) , which was approved by the sole stockholder of hii prior to its spin-off from northrop grumman corporation . of these shares , 27123 were stock rights granted under the 2011 plan . in addition , this number includes 28763 stock rights , 3075 restricted stock rights , and 389898 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement . ( 2 ) there are no awards made under plans not approved by security holders . item 13 . certain relationships and related transactions , and director independence information as to certain relationships and related transactions and director independence will be incorporated herein by reference to the proxy statement for our 2018 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year . item 14 . principal accountant fees and services information as to principal accountant fees and services will be incorporated herein by reference to the proxy statement for our 2018 annual meeting of stockholders , to be filed within 120 days after the end of the company 2019s fiscal year. .
Question:
in the number of securities to be issued what is the ratio of the stock rights from the 2012 plan to the 2011 plan included in these securities
Important information:
table_3: plan category the total of number of securities to be issued upon exercise of outstanding options warrants and rights ( 1 ) ( a ) ( b ) is 448859 ; the total of weighted-average exercise price of outstanding optionswarrants and rights is $ 0.00 ; the total of number of securities remaining available for future issuance under equity compensation plans ( excluding securitiesreflected in column ( a ) ) ( c ) is 4087587 ;
text_5: of these shares , 27123 were stock rights granted under the 2011 plan .
text_6: in addition , this number includes 28763 stock rights , 3075 restricted stock rights , and 389898 restricted performance stock rights granted under the 2012 plan , assuming target performance achievement .
Reasoning Steps:
Step: divide2-1(28763, 27123) = 1.06
Program:
divide(28763, 27123)
Program (Nested):
divide(28763, 27123)
| finqa595 |
what was the percent of the change in the net revenues from dec . 282012 dec . 29 2013
Important information:
table_1: ( dollars in millions except per share amounts ) the net revenue of three months ended dec . 282013 is $ 13834 ; the net revenue of three months ended sept . 282013 is $ 13483 ; the net revenue of three months ended change is $ 351 ; the net revenue of three months ended dec . 282013 is $ 52708 ; the net revenue of three months ended dec . 292012 is $ 53341 ; the net revenue of change is $ -633 ( 633 ) ;
table_5: ( dollars in millions except per share amounts ) the net income of three months ended dec . 282013 is $ 2625 ; the net income of three months ended sept . 282013 is $ 2950 ; the net income of three months ended change is $ -325 ( 325 ) ; the net income of three months ended dec . 282013 is $ 9620 ; the net income of three months ended dec . 292012 is $ 11005 ; the net income of change is $ -1385 ( 1385 ) ;
Reasoning Steps:
Step: minus1-1(52708, 53341) = -633
Step: divide1-2(#0, 53341) = -1.2%
Program:
subtract(52708, 53341), divide(#0, 53341)
Program (Nested):
divide(subtract(52708, 53341), 53341)
| -0.01187 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
item 7 . management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations ( md&a ) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations , financial condition , and cash flows . md&a is organized as follows : 2022 overview . discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a . 2022 critical accounting estimates . accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts . 2022 results of operations . an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources . an analysis of changes in our balance sheets and cash flows , and discussion of our financial condition and potential sources of liquidity . 2022 fair value of financial instruments . discussion of the methodologies used in the valuation of our financial instruments . 2022 contractual obligations and off-balance-sheet arrangements . overview of contractual obligations , contingent liabilities , commitments , and off-balance-sheet arrangements outstanding as of december 28 , 2013 , including expected payment schedule . the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties . words such as 201canticipates , 201d 201cexpects , 201d 201cintends , 201d 201cplans , 201d 201cbelieves , 201d 201cseeks , 201d 201cestimates , 201d 201ccontinues , 201d 201cmay , 201d 201cwill , 201d 201cshould , 201d and variations of such words and similar expressions are intended to identify such forward-looking statements . in addition , any statements that refer to projections of our future financial performance , our anticipated growth and trends in our businesses , uncertain events or assumptions , and other characterizations of future events or circumstances are forward-looking statements . such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i , item 1a of this form 10-k . our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 . overview our results of operations for each period were as follows: .
Table
( dollars in millions except per share amounts ) | three months ended dec . 282013 | three months ended sept . 282013 | three months ended change | three months ended dec . 282013 | three months ended dec . 292012 | change
net revenue | $ 13834 | $ 13483 | $ 351 | $ 52708 | $ 53341 | $ -633 ( 633 )
gross margin | $ 8571 | $ 8414 | $ 157 | $ 31521 | $ 33151 | $ -1630 ( 1630 )
gross margin percentage | 62.0% ( 62.0 % ) | 62.4% ( 62.4 % ) | ( 0.4 ) % ( % ) | 59.8% ( 59.8 % ) | 62.1% ( 62.1 % ) | ( 2.3 ) % ( % )
operating income | $ 3549 | $ 3504 | $ 45 | $ 12291 | $ 14638 | $ -2347 ( 2347 )
net income | $ 2625 | $ 2950 | $ -325 ( 325 ) | $ 9620 | $ 11005 | $ -1385 ( 1385 )
diluted earnings per common share | $ 0.51 | $ 0.58 | $ -0.07 ( 0.07 ) | $ 1.89 | $ 2.13 | $ -0.24 ( 0.24 )
revenue for 2013 was down 1% ( 1 % ) from 2012 . pccg experienced lower platform unit sales in the first half of the year , but saw offsetting growth in the back half as the pc market began to show signs of stabilization . dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year . higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012 . in response to the current business environment and to better align resources , management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities . these actions resulted in restructuring and asset impairment charges of $ 240 million for 2013 . table of contents .
Question:
what was the percent of the change in the net revenues from dec . 282012 dec . 29 2013
Important information:
table_1: ( dollars in millions except per share amounts ) the net revenue of three months ended dec . 282013 is $ 13834 ; the net revenue of three months ended sept . 282013 is $ 13483 ; the net revenue of three months ended change is $ 351 ; the net revenue of three months ended dec . 282013 is $ 52708 ; the net revenue of three months ended dec . 292012 is $ 53341 ; the net revenue of change is $ -633 ( 633 ) ;
table_5: ( dollars in millions except per share amounts ) the net income of three months ended dec . 282013 is $ 2625 ; the net income of three months ended sept . 282013 is $ 2950 ; the net income of three months ended change is $ -325 ( 325 ) ; the net income of three months ended dec . 282013 is $ 9620 ; the net income of three months ended dec . 292012 is $ 11005 ; the net income of change is $ -1385 ( 1385 ) ;
Reasoning Steps:
Step: minus1-1(52708, 53341) = -633
Step: divide1-2(#0, 53341) = -1.2%
Program:
subtract(52708, 53341), divide(#0, 53341)
Program (Nested):
divide(subtract(52708, 53341), 53341)
| finqa596 |
what is the percent change in annual long-term debt maturities from 2016 to 2017?
Important information:
text_7: the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2013 , for the next five years are as follows : amount ( in thousands ) .
table_3: the 2016 of amount ( in thousands ) is $ 270852 ;
table_4: the 2017 of amount ( in thousands ) is $ 766801 ;
Reasoning Steps:
Step: minus1-1(766801, 270852) = 495949
Step: divide1-2(#0, 270852) = 183%
Program:
subtract(766801, 270852), divide(#0, 270852)
Program (Nested):
divide(subtract(766801, 270852), 270852)
| 1.83107 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy corporation and subsidiaries notes to financial statements ( a ) consists of pollution control revenue bonds and environmental revenue bonds , some of which are secured by collateral first mortgage bonds . ( b ) these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . ( c ) pursuant to the nuclear waste policy act of 1982 , entergy 2019s nuclear owner/licensee subsidiaries have contracts with the doe for spent nuclear fuel disposal service . the contracts include a one-time fee for generation prior to april 7 , 1983 . entergy arkansas is the only entergy company that generated electric power with nuclear fuel prior to that date and includes the one-time fee , plus accrued interest , in long-term ( d ) see note 10 to the financial statements for further discussion of the waterford 3 and grand gulf lease obligations . ( e ) the fair value excludes lease obligations of $ 149 million at entergy louisiana and $ 97 million at system energy , long-term doe obligations of $ 181 million at entergy arkansas , and the note payable to nypa of $ 95 million at entergy , and includes debt due within one year . fair values are classified as level 2 in the fair value hierarchy discussed in note 16 to the financial statements and are based on prices derived from inputs such as benchmark yields and reported trades . the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2013 , for the next five years are as follows : amount ( in thousands ) .
Table
| amount ( in thousands )
2014 | $ 385373
2015 | $ 1110566
2016 | $ 270852
2017 | $ 766801
2018 | $ 1324616
in november 2000 , entergy 2019s non-utility nuclear business purchased the fitzpatrick and indian point 3 power plants in a seller-financed transaction . entergy issued notes to nypa with seven annual installments of approximately $ 108 million commencing one year from the date of the closing , and eight annual installments of $ 20 million commencing eight years from the date of the closing . these notes do not have a stated interest rate , but have an implicit interest rate of 4.8% ( 4.8 % ) . in accordance with the purchase agreement with nypa , the purchase of indian point 2 in 2001 resulted in entergy becoming liable to nypa for an additional $ 10 million per year for 10 years , beginning in september 2003 . this liability was recorded upon the purchase of indian point 2 in september 2001 . in july 2003 a payment of $ 102 million was made prior to maturity on the note payable to nypa . under a provision in a letter of credit supporting these notes , if certain of the utility operating companies or system energy were to default on other indebtedness , entergy could be required to post collateral to support the letter of credit . entergy gulf states louisiana , entergy louisiana , entergy mississippi , entergy texas , and system energy have obtained long-term financing authorizations from the ferc that extend through october 2015 . entergy arkansas has obtained long-term financing authorization from the apsc that extends through december 2015 . entergy new orleans has obtained long-term financing authorization from the city council that extends through july 2014 . capital funds agreement pursuant to an agreement with certain creditors , entergy corporation has agreed to supply system energy with sufficient capital to : 2022 maintain system energy 2019s equity capital at a minimum of 35% ( 35 % ) of its total capitalization ( excluding short- term debt ) ; .
Question:
what is the percent change in annual long-term debt maturities from 2016 to 2017?
Important information:
text_7: the annual long-term debt maturities ( excluding lease obligations and long-term doe obligations ) for debt outstanding as of december 31 , 2013 , for the next five years are as follows : amount ( in thousands ) .
table_3: the 2016 of amount ( in thousands ) is $ 270852 ;
table_4: the 2017 of amount ( in thousands ) is $ 766801 ;
Reasoning Steps:
Step: minus1-1(766801, 270852) = 495949
Step: divide1-2(#0, 270852) = 183%
Program:
subtract(766801, 270852), divide(#0, 270852)
Program (Nested):
divide(subtract(766801, 270852), 270852)
| finqa597 |
what percent of the balance increase is attributed to balances assumed in acquisitions?
Important information:
table_1: ( dollar amounts in millions ) the balance at january 1 of year ended december 31 , 2012 is $ 349 ; the balance at january 1 of year ended december 31 , 2011 is $ 307 ; the balance at january 1 of year ended december 31 , 2010 is $ 285 ;
table_7: ( dollar amounts in millions ) the positions assumed in acquisitions of year ended december 31 , 2012 is 12 ; the positions assumed in acquisitions of year ended december 31 , 2011 is 2014 ; the positions assumed in acquisitions of year ended december 31 , 2010 is 4 ;
table_8: ( dollar amounts in millions ) the balance at december 31 of year ended december 31 , 2012 is $ 404 ; the balance at december 31 of year ended december 31 , 2011 is $ 349 ; the balance at december 31 of year ended december 31 , 2010 is $ 307 ;
Reasoning Steps:
Step: minus2-1(404, 285) = 119
Step: add2-2(4, 12) = 16
Step: divide2-3(#1, #0) = .1345
Program:
subtract(404, 285), add(4, 12), divide(#1, #0)
Program (Nested):
divide(add(4, 12), subtract(404, 285))
| 0.13445 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
19 . income taxes ( continued ) capital loss carryforwards of $ 69 million and $ 90 million , which were acquired in the bgi transaction and will expire on or before 2013 . at december 31 , 2012 and 2011 , the company had $ 95 million and $ 95 million of valuation allowances for deferred income tax assets , respectively , recorded on the consolidated statements of financial condition . the year- over-year increase in the valuation allowance primarily related to certain foreign deferred income tax assets . goodwill recorded in connection with the quellos transaction has been reduced during the period by the amount of tax benefit realized from tax-deductible goodwill . see note 9 , goodwill , for further discussion . current income taxes are recorded net in the consolidated statements of financial condition when related to the same tax jurisdiction . as of december 31 , 2012 , the company had current income taxes receivable and payable of $ 102 million and $ 121 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . as of december 31 , 2011 , the company had current income taxes receivable and payable of $ 108 million and $ 102 million , respectively , recorded in other assets and accounts payable and accrued liabilities , respectively . the company does not provide deferred taxes on the excess of the financial reporting over tax basis on its investments in foreign subsidiaries that are essentially permanent in duration . the excess totaled $ 2125 million and $ 1516 million as of december 31 , 2012 and 2011 , respectively . the determination of the additional deferred income taxes on the excess has not been provided because it is not practicable due to the complexities associated with its hypothetical calculation . the following tabular reconciliation presents the total amounts of gross unrecognized tax benefits : year ended december 31 , ( dollar amounts in millions ) 2012 2011 2010 .
Table
( dollar amounts in millions ) | year ended december 31 , 2012 | year ended december 31 , 2011 | year ended december 31 , 2010
balance at january 1 | $ 349 | $ 307 | $ 285
additions for tax positions of prior years | 4 | 22 | 10
reductions for tax positions of prior years | -1 ( 1 ) | -1 ( 1 ) | -17 ( 17 )
additions based on tax positions related to current year | 69 | 46 | 35
lapse of statute of limitations | 2014 | 2014 | -8 ( 8 )
settlements | -29 ( 29 ) | -25 ( 25 ) | -2 ( 2 )
positions assumed in acquisitions | 12 | 2014 | 4
balance at december 31 | $ 404 | $ 349 | $ 307
included in the balance of unrecognized tax benefits at december 31 , 2012 , 2011 and 2010 , respectively , are $ 250 million , $ 226 million and $ 194 million of tax benefits that , if recognized , would affect the effective tax rate . the company recognizes interest and penalties related to income tax matters as a component of income tax expense . related to the unrecognized tax benefits noted above , the company accrued interest and penalties of $ 3 million during 2012 and in total , as of december 31 , 2012 , had recognized a liability for interest and penalties of $ 69 million . the company accrued interest and penalties of $ 10 million during 2011 and in total , as of december 31 , 2011 , had recognized a liability for interest and penalties of $ 66 million . the company accrued interest and penalties of $ 8 million during 2010 and in total , as of december 31 , 2010 , had recognized a liability for interest and penalties of $ 56 million . pursuant to the amended and restated stock purchase agreement , the company has been indemnified by barclays for $ 73 million and guggenheim for $ 6 million of unrecognized tax benefits . blackrock is subject to u.s . federal income tax , state and local income tax , and foreign income tax in multiple jurisdictions . tax years after 2007 remain open to u.s . federal income tax examination , tax years after 2005 remain open to state and local income tax examination , and tax years after 2006 remain open to income tax examination in the united kingdom . with few exceptions , as of december 31 , 2012 , the company is no longer subject to u.s . federal , state , local or foreign examinations by tax authorities for years before 2006 . the internal revenue service ( 201cirs 201d ) completed its examination of blackrock 2019s 2006 and 2007 tax years in march 2011 . in november 2011 , the irs commenced its examination of blackrock 2019s 2008 and 2009 tax years , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . in july 2011 , the irs commenced its federal income tax audit of the bgi group , which blackrock acquired in december 2009 . the tax years under examination are 2007 through december 1 , 2009 , and while the impact on the consolidated financial statements is undetermined , it is not expected to be material . the company is currently under audit in several state and local jurisdictions . the significant state and local income tax examinations are in california for tax years 2004 through 2006 , new york city for tax years 2007 through 2008 , and new jersey for tax years 2003 through 2009 . no state and local income tax audits cover years earlier than 2007 except for california , new jersey and new york city . no state and local income tax audits are expected to result in an assessment material to the consolidated financial statements. .
Question:
what percent of the balance increase is attributed to balances assumed in acquisitions?
Important information:
table_1: ( dollar amounts in millions ) the balance at january 1 of year ended december 31 , 2012 is $ 349 ; the balance at january 1 of year ended december 31 , 2011 is $ 307 ; the balance at january 1 of year ended december 31 , 2010 is $ 285 ;
table_7: ( dollar amounts in millions ) the positions assumed in acquisitions of year ended december 31 , 2012 is 12 ; the positions assumed in acquisitions of year ended december 31 , 2011 is 2014 ; the positions assumed in acquisitions of year ended december 31 , 2010 is 4 ;
table_8: ( dollar amounts in millions ) the balance at december 31 of year ended december 31 , 2012 is $ 404 ; the balance at december 31 of year ended december 31 , 2011 is $ 349 ; the balance at december 31 of year ended december 31 , 2010 is $ 307 ;
Reasoning Steps:
Step: minus2-1(404, 285) = 119
Step: add2-2(4, 12) = 16
Step: divide2-3(#1, #0) = .1345
Program:
subtract(404, 285), add(4, 12), divide(#1, #0)
Program (Nested):
divide(add(4, 12), subtract(404, 285))
| finqa598 |
in 2018 what was the ratio of the service cost to the interest cost
Important information:
table_1: ( millions of dollars ) the service cost of pension plans 2018 is $ 136 ; the service cost of pension plans 2017 is $ 110 ; the service cost of pension plans 2016 is $ 81 ;
table_2: ( millions of dollars ) the interest cost of pension plans 2018 is 90 ; the interest cost of pension plans 2017 is 61 ; the interest cost of pension plans 2016 is 72 ;
table_4: ( millions of dollars ) the amortization of prior service credit of pension plans 2018 is -13 ( 13 ) ; the amortization of prior service credit of pension plans 2017 is -14 ( 14 ) ; the amortization of prior service credit of pension plans 2016 is -15 ( 15 ) ;
Reasoning Steps:
Step: divide2-1(90, 136) = 66.2%
Program:
divide(90, 136)
Program (Nested):
divide(90, 136)
| 0.66176 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations . postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material . the measurement date used for the company 2019s employee benefit plans is september 30 . effective january 1 , 2018 , the legacy u.s . pension plan was frozen to limit the participation of employees who are hired or re-hired by the company , or who transfer employment to the company , on or after january 1 , net pension cost for the years ended september 30 included the following components: .
Table
( millions of dollars ) | pension plans 2018 | pension plans 2017 | pension plans 2016
service cost | $ 136 | $ 110 | $ 81
interest cost | 90 | 61 | 72
expected return on plan assets | -154 ( 154 ) | -112 ( 112 ) | -109 ( 109 )
amortization of prior service credit | -13 ( 13 ) | -14 ( 14 ) | -15 ( 15 )
amortization of loss | 78 | 92 | 77
settlements | 2 | 2014 | 7
net pension cost | $ 137 | $ 138 | $ 113
net pension cost included in the preceding table that is attributable to international plans | $ 34 | $ 43 | $ 35
net pension cost included in the preceding table that is attributable to international plans $ 34 $ 43 $ 35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income ( loss ) in prior periods . the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s . supplemental pension plan . the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year. .
Question:
in 2018 what was the ratio of the service cost to the interest cost
Important information:
table_1: ( millions of dollars ) the service cost of pension plans 2018 is $ 136 ; the service cost of pension plans 2017 is $ 110 ; the service cost of pension plans 2016 is $ 81 ;
table_2: ( millions of dollars ) the interest cost of pension plans 2018 is 90 ; the interest cost of pension plans 2017 is 61 ; the interest cost of pension plans 2016 is 72 ;
table_4: ( millions of dollars ) the amortization of prior service credit of pension plans 2018 is -13 ( 13 ) ; the amortization of prior service credit of pension plans 2017 is -14 ( 14 ) ; the amortization of prior service credit of pension plans 2016 is -15 ( 15 ) ;
Reasoning Steps:
Step: divide2-1(90, 136) = 66.2%
Program:
divide(90, 136)
Program (Nested):
divide(90, 136)
| finqa599 |
what is the percentage change in rent expense from 2006 yo 2007?
Important information:
table_6: 2008 the total of 83382 is $ 249038 ;
text_7: rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively .
text_20: the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp .
Reasoning Steps:
Step: minus1-1(106.4, 81.5) = 24.9
Step: divide1-2(#0, 81.5) = 30.6%
Program:
subtract(106.4, 81.5), divide(#0, 81.5)
Program (Nested):
divide(subtract(106.4, 81.5), 81.5)
| 0.30552 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
company has a contingent liability relating to proper disposition of these balances , which amounted to $ 1926.8 mil- lion at december 31 , 2007 . as a result of holding these customers 2019 assets in escrow , the company has ongoing programs for realizing economic benefits during the year through favorable borrowing and vendor arrangements with various banks . there were no loans outstanding as of december 31 , 2007 and these balances were invested in short term , high grade investments that minimize the risk to principal . leases the company leases certain of its property under leases which expire at various dates . several of these agreements include escalation clauses and provide for purchases and renewal options for periods ranging from one to five years . future minimum operating lease payments for leases with remaining terms greater than one year for each of the years in the five years ending december 31 , 2012 , and thereafter in the aggregate , are as follows ( in thousands ) : .
Table
2008 | 83382
2009 | 63060
2010 | 35269
2011 | 21598
2012 | 14860
thereafter | 30869
total | $ 249038
in addition , the company has operating lease commitments relating to office equipment and computer hardware with annual lease payments of approximately $ 16.0 million per year which renew on a short-term basis . rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively . data processing and maintenance services agreements . the company has agreements with various vendors , which expire between 2008 and 2017 , for portions of its computer data processing operations and related functions . the company 2019s estimated aggregate contractual obligation remaining under these agreements was approximately $ 888.3 million as of december 31 , 2007 . however , this amount could be more or less depending on various factors such as the inflation rate , the introduction of significant new technologies , or changes in the company 2019s data processing needs . ( 17 ) employee benefit plans stock purchase plan prior to the certegy merger ( note 6 ) , fis employees participated in the fidelity national financial , inc . employee stock purchase plan ( espp ) . subsequent to the certegy merger , the company instituted its own plan with the same terms as the fidelity national financial , inc . plan . under the terms of both plans and subsequent amendments , eligible employees may voluntarily purchase , at current market prices , shares of fnf 2019s ( prior to the certegy merger ) or fis 2019s ( post certegy merger ) common stock through payroll deductions . pursuant to the espp , employees may contribute an amount between 3% ( 3 % ) and 15% ( 15 % ) of their base salary and certain commissions . shares purchased are allocated to employees based upon their contributions . the company contributes varying matching amounts as specified in the espp . the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .
Question:
what is the percentage change in rent expense from 2006 yo 2007?
Important information:
table_6: 2008 the total of 83382 is $ 249038 ;
text_7: rent expense incurred under all operating leases during the years ended december 31 , 2007 , 2006 and 2005 was $ 106.4 million , $ 81.5 million and $ 61.1 million , respectively .
text_20: the company recorded an expense of $ 15.2 million , $ 13.1 million and $ 11.1 million , respectively , for the years ended december 31 , 2007 , 2006 and 2005 relating to the participation of fis employees in the espp .
Reasoning Steps:
Step: minus1-1(106.4, 81.5) = 24.9
Step: divide1-2(#0, 81.5) = 30.6%
Program:
subtract(106.4, 81.5), divide(#0, 81.5)
Program (Nested):
divide(subtract(106.4, 81.5), 81.5)
| finqa600 |
what is the net change in total liabilities for litigation settlements during 2008?
Important information:
table_4: balance as of december 31 2006 the balance as of december 31 2007 of $ 476915 is 404436 ;
table_12: balance as of december 31 2006 the payment on u.s . merchant lawsuit settlement of $ 476915 is -100000 ( 100000 ) ;
table_14: balance as of december 31 2006 the balance as of december 31 2008 of $ 476915 is $ 1736298 ;
Reasoning Steps:
Step: minus2-1(1736298, 404436) = 1331862
Program:
subtract(1736298, 404436)
Program (Nested):
subtract(1736298, 404436)
| 1331862.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) on june 24 , 2008 , mastercard entered into a settlement agreement ( the 201camerican express settlement 201d ) with american express company ( 201camerican express 201d ) relating to the u.s . federal antitrust litigation between mastercard and american express . the american express settlement ended all existing litigation between mastercard and american express . under the terms of the american express settlement , mastercard is obligated to make 12 quarterly payments of up to $ 150000 per quarter beginning in the third quarter of 2008 . mastercard 2019s maximum nominal payments will total $ 1800000 . the amount of each quarterly payment is contingent on the performance of american express 2019s u.s . global network services business . the quarterly payments will be in an amount equal to 15% ( 15 % ) of american express 2019s u.s . global network services billings during the quarter , up to a maximum of $ 150000 per quarter . if , however , the payment for any quarter is less than $ 150000 , the maximum payment for subsequent quarters will be increased by the difference between $ 150000 and the lesser amount that was paid in any quarter in which there was a shortfall . mastercard assumes american express will achieve these financial hurdles . mastercard recorded the present value of $ 1800000 , at a 5.75% ( 5.75 % ) discount rate , or $ 1649345 for the year ended december 31 , 2008 . in 2003 , mastercard entered into a settlement agreement ( the 201cu.s . merchant lawsuit settlement 201d ) related to the u.s . merchant lawsuit described under the caption 201cu.s . merchant and consumer litigations 201d in note 20 ( legal and regulatory proceedings ) and contract disputes with certain customers . under the terms of the u.s . merchant lawsuit settlement , the company was required to pay $ 125000 in 2003 and $ 100000 annually each december from 2004 through 2012 . in addition , in 2003 , several other lawsuits were initiated by merchants who opted not to participate in the plaintiff class in the u.s . merchant lawsuit . the 201copt-out 201d merchant lawsuits were not covered by the terms of the u.s . merchant lawsuit settlement and all have been individually settled . we recorded liabilities for certain litigation settlements in prior periods . total liabilities for litigation settlements changed from december 31 , 2006 , as follows: .
Table
balance as of december 31 2006 | $ 476915
provision for litigation settlements ( note 20 ) | 3400
interest accretion on u.s . merchant lawsuit | 38046
payments | -113925 ( 113925 )
balance as of december 31 2007 | 404436
provision for discover settlement | 862500
provision for american express settlement | 1649345
provision for other litigation settlements | 6000
interest accretion on u.s . merchant lawsuit settlement | 32879
interest accretion on american express settlement | 44300
payments on american express settlement | -300000 ( 300000 )
payments on discover settlement | -862500 ( 862500 )
payment on u.s . merchant lawsuit settlement | -100000 ( 100000 )
other payments and accretion | -662 ( 662 )
balance as of december 31 2008 | $ 1736298
see note 20 ( legal and regulatory proceedings ) for additional discussion regarding the company 2019s legal proceedings. .
Question:
what is the net change in total liabilities for litigation settlements during 2008?
Important information:
table_4: balance as of december 31 2006 the balance as of december 31 2007 of $ 476915 is 404436 ;
table_12: balance as of december 31 2006 the payment on u.s . merchant lawsuit settlement of $ 476915 is -100000 ( 100000 ) ;
table_14: balance as of december 31 2006 the balance as of december 31 2008 of $ 476915 is $ 1736298 ;
Reasoning Steps:
Step: minus2-1(1736298, 404436) = 1331862
Program:
subtract(1736298, 404436)
Program (Nested):
subtract(1736298, 404436)
| finqa601 |
for the ipl cumulative preferred stock , what was the dividend rate at december 31 , 2016 and 2015?
Important information:
table_3: december 31, the ipl preferred stock of 2016 is 60 ; the ipl preferred stock of 2015 is 60 ;
text_4: ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock .
text_5: the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 .
Reasoning Steps:
Step: divide1-1(3, 60) = 5%
Program:
divide(3, 60)
Program (Nested):
divide(3, 60)
| 0.05 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the aes corporation notes to consolidated financial statements december 31 , 2016 , 2015 , and 2014 the following table summarizes the company's redeemable stock of subsidiaries balances as of the periods indicated ( in millions ) : .
Table
december 31, | 2016 | 2015
ipalco common stock | $ 618 | $ 460
colon quotas ( 1 ) | 100 | 2014
ipl preferred stock | 60 | 60
other common stock | 4 | 2014
dpl preferred stock | 2014 | 18
total redeemable stock of subsidiaries | $ 782 | $ 538
_____________________________ ( 1 ) characteristics of quotas are similar to common stock . colon 2014 during the year ended december 31 , 2016 , our partner in colon increased their ownership from 25% ( 25 % ) to 49.9% ( 49.9 % ) and made capital contributions of $ 106 million . any subsequent adjustments to allocate earnings and dividends to our partner , or measure the investment at fair value , will be classified as temporary equity each reporting period as it is probable that the shares will become redeemable . ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock . the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 . certain series of the preferred stock were redeemable solely at the option of the issuer at prices between $ 100 and $ 118 per share . holders of the preferred stock are entitled to elect a majority of ipl's board of directors if ipl has not paid dividends to its preferred stockholders for four consecutive quarters . based on the preferred stockholders' ability to elect a majority of ipl's board of directors in this circumstance , the redemption of the preferred shares is considered to be not solely within the control of the issuer and the preferred stock is considered temporary equity . dpl 2014 dpl had $ 18 million of cumulative preferred stock outstanding as of december 31 , 2015 , which represented three series of preferred stock issued by dp&l , a wholly-owned subsidiary of dpl . the dp&l preferred stock was redeemable at dp&l's option as determined by its board of directors at per-share redemption prices between $ 101 and $ 103 per share , plus cumulative preferred dividends . in addition , dp&l's amended articles of incorporation contained provisions that permitted preferred stockholders to elect members of the dp&l board of directors in the event that cumulative dividends on the preferred stock are in arrears in an aggregate amount equivalent to at least four full quarterly dividends . based on the preferred stockholders' ability to elect members of dp&l's board of directors in this circumstance , the redemption of the preferred shares was considered to be not solely within the control of the issuer and the preferred stock was considered temporary equity . in september 2016 , it became probable that the preferred shares would become redeemable . as such , the company recorded an adjustment of $ 5 million to retained earnings to adjust the preferred shares to their redemption value of $ 23 million . in october 2016 , dp&l redeemed all of its preferred shares . upon redemption , the preferred shares were no longer outstanding and all rights of the holders thereof as shareholders of dp&l ceased to exist . ipalco 2014 in february 2015 , cdpq purchased 15% ( 15 % ) of aes us investment , inc. , a wholly-owned subsidiary that owns 100% ( 100 % ) of ipalco , for $ 247 million , with an option to invest an additional $ 349 million in ipalco through 2016 in exchange for a 17.65% ( 17.65 % ) equity stake . in april 2015 , cdpq invested an additional $ 214 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 24.90% ( 24.90 % ) . as a result of these transactions , $ 84 million in taxes and transaction costs were recognized as a net decrease to equity . the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of 377 million for the excess of the fair value of the shares over their book value . no gain or loss was recognized in net income as the transaction was not considered to be a sale of in-substance real estate . in march 2016 , cdpq exercised its remaining option by investing $ 134 million in ipalco , which resulted in cdpq's combined direct and indirect interest in ipalco of 30% ( 30 % ) . the company also recognized an increase to additional paid-in capital and a reduction to retained earnings of $ 84 million for the excess of the fair value of the shares over their book value . in june 2016 , cdpq contributed an additional $ 24 million to ipalco , with no impact to the ownership structure of the investment . any subsequent adjustments to allocate earnings and dividends to cdpq will be classified as nci within permanent equity as it is not probable that the shares will become redeemable. .
Question:
for the ipl cumulative preferred stock , what was the dividend rate at december 31 , 2016 and 2015?
Important information:
table_3: december 31, the ipl preferred stock of 2016 is 60 ; the ipl preferred stock of 2015 is 60 ;
text_4: ipl 2014 ipl had $ 60 million of cumulative preferred stock outstanding at december 31 , 2016 and 2015 , which represented five series of preferred stock .
text_5: the total annual dividend requirements were approximately $ 3 million at december 31 , 2016 and 2015 .
Reasoning Steps:
Step: divide1-1(3, 60) = 5%
Program:
divide(3, 60)
Program (Nested):
divide(3, 60)
| finqa602 |
what percentage of employees are subject to collective bargaining agreements?
Important information:
text_19: employees we employed 4859 people at january 31 , 2013 , including 705 people at kansas gas service who are subject to collective bargaining agreements .
text_20: the following table sets forth our contracts with collective bargaining units at january 31 , 2013: .
table_2: union the international brotherhood of electrical workers ( ibew ) of employees is 299 ; the international brotherhood of electrical workers ( ibew ) of contract expires is june 30 2014 ;
Reasoning Steps:
Step: divide1-1(705, 4859) = 15%
Program:
divide(705, 4859)
Program (Nested):
divide(705, 4859)
| 0.14509 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
guidance to amend or clarify portions of the final rule in 2013 . we anticipate that if the epa issues additional responses , amendments and/or policy guidance on the final rule , it will reduce the anticipated capital , operations and maintenance costs resulting from the regulation . generally , the nsps final rule will require expenditures for updated emissions controls , monitoring and record-keeping requirements at affected facilities in the crude-oil and natural gas industry . we do not expect these expenditures will have a material impact on our results of operations , financial position or cash flows . cercla - the federal comprehensive environmental response , compensation and liability act , also commonly known as superfund ( cercla ) , imposes strict , joint and several liability , without regard to fault or the legality of the original act , on certain classes of 201cpersons 201d ( defined under cercla ) that caused and/or contributed to the release of a hazardous substance into the environment . these persons include but are not limited to the owner or operator of a facility where the release occurred and/or companies that disposed or arranged for the disposal of the hazardous substances found at the facility . under cercla , these persons may be liable for the costs of cleaning up the hazardous substances released into the environment , damages to natural resources and the costs of certain health studies . neither we nor oneok partners expect our respective responsibilities under cercla , for this facility and any other , will have a material impact on our respective results of operations , financial position or cash flows . chemical site security - the united states department of homeland security released an interim rule in april 2007 that requires companies to provide reports on sites where certain chemicals , including many hydrocarbon products , are stored . we completed the homeland security assessments , and our facilities subsequently were assigned one of four risk-based tiers ranging from high ( tier 1 ) to low ( tier 4 ) risk , or not tiered at all due to low risk . to date , four of our facilities have been given a tier 4 rating . facilities receiving a tier 4 rating are required to complete site security plans and possible physical security enhancements . we do not expect the site security plans and possible security enhancements cost will have a material impact on our results of operations , financial position or cash flows . pipeline security - the united states department of homeland security 2019s transportation security administration and the dot have completed a review and inspection of our 201ccritical facilities 201d and identified no material security issues . also , the transportation security administration has released new pipeline security guidelines that include broader definitions for the determination of pipeline 201ccritical facilities . 201d we have reviewed our pipeline facilities according to the new guideline requirements , and there have been no material changes required to date . environmental footprint - our environmental and climate change strategy focuses on taking steps to minimize the impact of our operations on the environment . these strategies include : ( i ) developing and maintaining an accurate greenhouse gas emissions inventory according to current rules issued by the epa ; ( ii ) improving the efficiency of our various pipelines , natural gas processing facilities and natural gas liquids fractionation facilities ; ( iii ) following developing technologies for emission control and the capture of carbon dioxide to keep it from reaching the atmosphere ; and ( iv ) utilizing practices to reduce the loss of methane from our facilities . we participate in the epa 2019s natural gas star program to voluntarily reduce methane emissions . we continue to focus on maintaining low rates of lost-and-unaccounted-for natural gas through expanded implementation of best practices to limit the release of natural gas during pipeline and facility maintenance and operations . employees we employed 4859 people at january 31 , 2013 , including 705 people at kansas gas service who are subject to collective bargaining agreements . the following table sets forth our contracts with collective bargaining units at january 31 , 2013: .
Table
union | employees | contract expires
the united steelworkers | 406 | october 28 2016
international brotherhood of electrical workers ( ibew ) | 299 | june 30 2014
.
Question:
what percentage of employees are subject to collective bargaining agreements?
Important information:
text_19: employees we employed 4859 people at january 31 , 2013 , including 705 people at kansas gas service who are subject to collective bargaining agreements .
text_20: the following table sets forth our contracts with collective bargaining units at january 31 , 2013: .
table_2: union the international brotherhood of electrical workers ( ibew ) of employees is 299 ; the international brotherhood of electrical workers ( ibew ) of contract expires is june 30 2014 ;
Reasoning Steps:
Step: divide1-1(705, 4859) = 15%
Program:
divide(705, 4859)
Program (Nested):
divide(705, 4859)
| finqa603 |
as of december 312011 what was the ratio of the good will reported in the capital markets to the retail bank
Important information:
table_2: reporting unit the capital markets of december 31 2011 is 142.4 ;
table_3: reporting unit the retail bank of december 31 2011 is 40.6 ;
table_4: reporting unit the total goodwill of december 31 2011 is $ 1934.2 ;
Reasoning Steps:
Step: divide1-1(142.4, 40.6) = 3.51
Program:
divide(142.4, 40.6)
Program (Nested):
divide(142.4, 40.6)
| 3.50739 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
judgments the valuation of goodwill and other intangible assets depends on a number of factors , including estimates of future market growth and trends , forecasted revenue and costs , expected useful lives of the assets , appropriate discount rates and other variables . goodwill is allocated to reporting units , which are components of the business that are one level below operating segments . each of these reporting units is tested for impairment individually during the annual evaluation . there is no goodwill assigned to reporting units within the balance sheet management segment . the following table shows the amount of goodwill allocated to each of the reporting units in the trading and investing segment ( dollars in millions ) : .
Table
reporting unit | december 31 2011
u.s . brokerage | $ 1751.2
capital markets | 142.4
retail bank | 40.6
total goodwill | $ 1934.2
in connection with our annual impairment test of goodwill , we concluded that the goodwill was not impaired as the fair value of the reporting units was in excess of the book value of those reporting units as of december 31 , 2011 . the fair value of the reporting units exceeded the book value of those reporting units by substantial amounts ( fair value as a percent of book value ranged from approximately 150% ( 150 % ) to 700% ( 700 % ) ) and therefore did not indicate a significant risk of goodwill impairment based on current projections and valuations . we also evaluate the remaining useful lives on intangible assets each reporting period to determine whether events and circumstances warrant a revision to the remaining period of amortization . effects if actual results differ if our estimates of fair value for the reporting units change due to changes in our business or other factors , we may determine that an impairment charge is necessary . estimates of fair value are determined based on a complex model using cash flows and company comparisons . if management 2019s estimates of future cash flows are inaccurate , the fair value determined could be inaccurate and impairment would not be recognized in a timely manner . intangible assets are amortized over their estimated useful lives . if changes in the estimated underlying revenue occur , impairment or a change in the remaining life may need to be recognized. .
Question:
as of december 312011 what was the ratio of the good will reported in the capital markets to the retail bank
Important information:
table_2: reporting unit the capital markets of december 31 2011 is 142.4 ;
table_3: reporting unit the retail bank of december 31 2011 is 40.6 ;
table_4: reporting unit the total goodwill of december 31 2011 is $ 1934.2 ;
Reasoning Steps:
Step: divide1-1(142.4, 40.6) = 3.51
Program:
divide(142.4, 40.6)
Program (Nested):
divide(142.4, 40.6)
| finqa604 |
what was the difference in percentage cumulative return for lkq corporation and the s&p 500 index for the five years ended 12/31/2016?
Important information:
table_1: the lkq corporation of 12/31/2011 is $ 100 ; the lkq corporation of 12/31/2012 is $ 140 ; the lkq corporation of 12/31/2013 is $ 219 ; the lkq corporation of 12/31/2014 is $ 187 ; the lkq corporation of 12/31/2015 is $ 197 ; the lkq corporation of 12/31/2016 is $ 204 ;
table_2: the s&p 500 index of 12/31/2011 is $ 100 ; the s&p 500 index of 12/31/2012 is $ 113 ; the s&p 500 index of 12/31/2013 is $ 147 ; the s&p 500 index of 12/31/2014 is $ 164 ; the s&p 500 index of 12/31/2015 is $ 163 ; the s&p 500 index of 12/31/2016 is $ 178 ;
table_3: the peer group of 12/31/2011 is $ 100 ; the peer group of 12/31/2012 is $ 111 ; the peer group of 12/31/2013 is $ 140 ; the peer group of 12/31/2014 is $ 177 ; the peer group of 12/31/2015 is $ 188 ; the peer group of 12/31/2016 is $ 217 ;
Reasoning Steps:
Step: minus2-1(204, 100) = 104
Step: divide2-2(#0, 100) = 104%
Step: minus2-3(178, 100) = 78
Step: divide2-4(#2, 100) = 78%
Step: minus2-5(#1, #3) = 26%
Program:
subtract(204, 100), divide(#0, 100), subtract(178, 100), divide(#2, 100), subtract(#1, #3)
Program (Nested):
subtract(divide(subtract(204, 100), 100), divide(subtract(178, 100), 100))
| 0.26 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
comparison of cumulative return among lkq corporation , the nasdaq stock market ( u.s. ) index and the peer group .
Table
| 12/31/2011 | 12/31/2012 | 12/31/2013 | 12/31/2014 | 12/31/2015 | 12/31/2016
lkq corporation | $ 100 | $ 140 | $ 219 | $ 187 | $ 197 | $ 204
s&p 500 index | $ 100 | $ 113 | $ 147 | $ 164 | $ 163 | $ 178
peer group | $ 100 | $ 111 | $ 140 | $ 177 | $ 188 | $ 217
this stock performance information is "furnished" and shall not be deemed to be "soliciting material" or subject to rule 14a , shall not be deemed "filed" for purposes of section 18 of the securities exchange act of 1934 or otherwise subject to the liabilities of that section , and shall not be deemed incorporated by reference in any filing under the securities act of 1933 or the securities exchange act of 1934 , whether made before or after the date of this report and irrespective of any general incorporation by reference language in any such filing , except to the extent that it specifically incorporates the information by reference . information about our common stock that may be issued under our equity compensation plans as of december 31 , 2016 included in part iii , item 12 of this annual report on form 10-k is incorporated herein by reference. .
Question:
what was the difference in percentage cumulative return for lkq corporation and the s&p 500 index for the five years ended 12/31/2016?
Important information:
table_1: the lkq corporation of 12/31/2011 is $ 100 ; the lkq corporation of 12/31/2012 is $ 140 ; the lkq corporation of 12/31/2013 is $ 219 ; the lkq corporation of 12/31/2014 is $ 187 ; the lkq corporation of 12/31/2015 is $ 197 ; the lkq corporation of 12/31/2016 is $ 204 ;
table_2: the s&p 500 index of 12/31/2011 is $ 100 ; the s&p 500 index of 12/31/2012 is $ 113 ; the s&p 500 index of 12/31/2013 is $ 147 ; the s&p 500 index of 12/31/2014 is $ 164 ; the s&p 500 index of 12/31/2015 is $ 163 ; the s&p 500 index of 12/31/2016 is $ 178 ;
table_3: the peer group of 12/31/2011 is $ 100 ; the peer group of 12/31/2012 is $ 111 ; the peer group of 12/31/2013 is $ 140 ; the peer group of 12/31/2014 is $ 177 ; the peer group of 12/31/2015 is $ 188 ; the peer group of 12/31/2016 is $ 217 ;
Reasoning Steps:
Step: minus2-1(204, 100) = 104
Step: divide2-2(#0, 100) = 104%
Step: minus2-3(178, 100) = 78
Step: divide2-4(#2, 100) = 78%
Step: minus2-5(#1, #3) = 26%
Program:
subtract(204, 100), divide(#0, 100), subtract(178, 100), divide(#2, 100), subtract(#1, #3)
Program (Nested):
subtract(divide(subtract(204, 100), 100), divide(subtract(178, 100), 100))
| finqa605 |
what was the average entergy louisiana receivables from 2008 to 2011 in millions
Important information:
text_3: entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
table_1: 2011 the ( in thousands ) of 2010 is ( in thousands ) ; the ( in thousands ) of 2009 is ( in thousands ) ; the ( in thousands ) of 2008 is ( in thousands ) ;
table_2: 2011 the ( $ 118415 ) of 2010 is $ 49887 ; the ( $ 118415 ) of 2009 is $ 52807 ; the ( $ 118415 ) of 2008 is $ 61236 ;
Reasoning Steps:
Step: multiply0-0(118415, const_m1) = -118415
Step: add1-1(-118415, 49887) = -68528
Step: add1-2(#0, 52807) = -15721
Step: add1-3(#1, 61236) = 45515
Step: divide1-4(#2, const_4) = 11378.75
Program:
multiply(118415, const_m1), add(#0, 49887), add(#0, 52807), add(#1, 61236), divide(#2, const_4)
Program (Nested):
divide(add(multiply(118415, const_m1), 52807), const_4)
| -16402.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy louisiana , llc and subsidiaries management 2019s financial discussion and analysis all debt and common and preferred membership interest issuances by entergy louisiana require prior regulatory approval . preferred membership interest and debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . entergy louisiana has sufficient capacity under these tests to meet its foreseeable capital needs . entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
Table
2011 | 2010 | 2009 | 2008
( in thousands ) | ( in thousands ) | ( in thousands ) | ( in thousands )
( $ 118415 ) | $ 49887 | $ 52807 | $ 61236
see note 4 to the financial statements for a description of the money pool . entergy louisiana has a credit facility in the amount of $ 200 million scheduled to expire in august 2012 . as of december 31 , 2011 , $ 50 million was outstanding on the credit facility . entergy louisiana obtained short-term borrowing authorization from the ferc under which it may borrow through october 2013 , up to the aggregate amount , at any one time outstanding , of $ 250 million . see note 4 to the financial statements for further discussion of entergy louisiana 2019s short-term borrowing limits . entergy louisiana has also obtained an order from the ferc authorizing long-term securities issuances through july 2013 . in january 2012 , entergy louisiana issued $ 250 million of 1.875% ( 1.875 % ) series first mortgage bonds due december 2014 . entergy louisiana used the proceeds to repay short-term borrowings under the entergy system money pool . little gypsy repowering project in april 2007 , entergy louisiana announced that it intended to pursue the solid fuel repowering of a 538 mw unit at its little gypsy plant . in march 2009 the lpsc voted in favor of a motion directing entergy louisiana to temporarily suspend the repowering project and , based upon an analysis of the project 2019s economic viability , to make a recommendation regarding whether to proceed with the project . this action was based upon a number of factors including the recent decline in natural gas prices , as well as environmental concerns , the unknown costs of carbon legislation and changes in the capital/financial markets . in april 2009 , entergy louisiana complied with the lpsc 2019s directive and recommended that the project be suspended for an extended period of time of three years or more . in may 2009 the lpsc issued an order declaring that entergy louisiana 2019s decision to place the little gypsy project into a longer-term suspension of three years or more is in the public interest and prudent . in october 2009 , entergy louisiana made a filing with the lpsc seeking permission to cancel the little gypsy repowering project and seeking project cost recovery over a five-year period . in june 2010 and august 2010 , the lpsc staff and intervenors filed testimony . the lpsc staff ( 1 ) agreed that it was prudent to move the project from long-term suspension to cancellation and that the timing of the decision to suspend on a longer-term basis was not imprudent ; ( 2 ) indicated that , except for $ 0.8 million in compensation-related costs , the costs incurred should be deemed prudent ; ( 3 ) recommended recovery from customers over ten years but stated that the lpsc may want to consider 15 years ; ( 4 ) allowed for recovery of carrying costs and earning a return on project costs , but at a reduced rate approximating the cost of debt , while also acknowledging that the lpsc may consider ordering no return ; and ( 5 ) indicated that entergy louisiana should be directed to securitize project costs , if legally feasible and in the public interest . in the third quarter 2010 , in accordance with accounting standards , entergy louisiana determined that it was probable that the little gypsy repowering project would be abandoned and accordingly reclassified $ 199.8 million of project costs from construction work in progress to a regulatory asset . a hearing on the issues , except for cost allocation among customer classes , was held before the alj in november 2010 . in january 2011 all parties participated in a mediation on the disputed issues , resulting in a settlement of all disputed issues , including cost recovery and cost allocation . the settlement provides for entergy louisiana to recover $ 200 million as of march 31 , 2011 , and carrying costs on that amount on specified terms thereafter . the settlement also provides for entergy louisiana to recover the approved project costs by securitization . in april 2011 , entergy .
Question:
what was the average entergy louisiana receivables from 2008 to 2011 in millions
Important information:
text_3: entergy louisiana 2019s receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
table_1: 2011 the ( in thousands ) of 2010 is ( in thousands ) ; the ( in thousands ) of 2009 is ( in thousands ) ; the ( in thousands ) of 2008 is ( in thousands ) ;
table_2: 2011 the ( $ 118415 ) of 2010 is $ 49887 ; the ( $ 118415 ) of 2009 is $ 52807 ; the ( $ 118415 ) of 2008 is $ 61236 ;
Reasoning Steps:
Step: multiply0-0(118415, const_m1) = -118415
Step: add1-1(-118415, 49887) = -68528
Step: add1-2(#0, 52807) = -15721
Step: add1-3(#1, 61236) = 45515
Step: divide1-4(#2, const_4) = 11378.75
Program:
multiply(118415, const_m1), add(#0, 49887), add(#0, 52807), add(#1, 61236), divide(#2, const_4)
Program (Nested):
divide(add(multiply(118415, const_m1), 52807), const_4)
| finqa606 |
what is the percent change in gas customers between 2007 and 2008?
Important information:
text_2: following is an analysis of the change in net revenue comparing 2008 to 2007 .
text_3: amount ( in millions ) .
text_5: entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31 , 2008 , compared to approximately 132000 electric customers and 86000 gas customers as of december 31 , 2007 .
Reasoning Steps:
Step: minus1-1(93000, 86000) = 7000
Step: divide1-2(#0, 86000) = 8%
Program:
subtract(93000, 86000), divide(#0, 86000)
Program (Nested):
divide(subtract(93000, 86000), 86000)
| 0.0814 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy new orleans , inc . management's financial discussion and analysis net revenue 2008 compared to 2007 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 2008 to 2007 . amount ( in millions ) .
Table
| amount ( in millions )
2007 net revenue | $ 231.0
volume/weather | 15.5
net gas revenue | 6.6
rider revenue | 3.9
base revenue | -11.3 ( 11.3 )
other | 7.0
2008 net revenue | $ 252.7
the volume/weather variance is due to an increase in electricity usage in the service territory in 2008 compared to the same period in 2007 . entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31 , 2008 , compared to approximately 132000 electric customers and 86000 gas customers as of december 31 , 2007 . billed retail electricity usage increased a total of 184 gwh compared to the same period in 2007 , an increase of 4% ( 4 % ) . the net gas revenue variance is primarily due to an increase in base rates in march and november 2007 . refer to note 2 to the financial statements for a discussion of the base rate increase . the rider revenue variance is due primarily to higher total revenue and a storm reserve rider effective march 2007 as a result of the city council's approval of a settlement agreement in october 2006 . the approved storm reserve has been set to collect $ 75 million over a ten-year period through the rider and the funds will be held in a restricted escrow account . the settlement agreement is discussed in note 2 to the financial statements . the base revenue variance is primarily due to a base rate recovery credit , effective january 2008 . the base rate credit is discussed in note 2 to the financial statements . gross operating revenues and fuel and purchased power expenses gross operating revenues increased primarily due to : an increase of $ 58.9 million in gross wholesale revenue due to increased sales to affiliated customers and an increase in the average price of energy available for resale sales ; an increase of $ 47.7 million in electric fuel cost recovery revenues due to higher fuel rates and increased electricity usage ; and an increase of $ 22 million in gross gas revenues due to higher fuel recovery revenues and increases in gas base rates in march 2007 and november 2007 . fuel and purchased power increased primarily due to increases in the average market prices of natural gas and purchased power in addition to an increase in demand. .
Question:
what is the percent change in gas customers between 2007 and 2008?
Important information:
text_2: following is an analysis of the change in net revenue comparing 2008 to 2007 .
text_3: amount ( in millions ) .
text_5: entergy new orleans estimates that approximately 141000 electric customers and 93000 gas customers have returned since hurricane katrina and are taking service as of december 31 , 2008 , compared to approximately 132000 electric customers and 86000 gas customers as of december 31 , 2007 .
Reasoning Steps:
Step: minus1-1(93000, 86000) = 7000
Step: divide1-2(#0, 86000) = 8%
Program:
subtract(93000, 86000), divide(#0, 86000)
Program (Nested):
divide(subtract(93000, 86000), 86000)
| finqa607 |
what was the percentage change in diluted earnings per common share december 29 2012 and december 28 2013?
Important information:
text_17: our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 .
text_18: overview our results of operations for each period were as follows: .
table_6: ( dollars in millions except per share amounts ) the diluted earnings per common share of three months ended dec . 282013 is $ 0.51 ; the diluted earnings per common share of three months ended sept . 282013 is $ 0.58 ; the diluted earnings per common share of three months ended change is $ -0.07 ( 0.07 ) ; the diluted earnings per common share of three months ended dec . 282013 is $ 1.89 ; the diluted earnings per common share of three months ended dec . 292012 is $ 2.13 ; the diluted earnings per common share of change is $ -0.24 ( 0.24 ) ;
Reasoning Steps:
Step: minus2-1(1.89, 2.13) = -.24
Step: divide2-2(#0, 2.13) = -11%
Program:
subtract(1.89, 2.13), divide(#0, 2.13)
Program (Nested):
divide(subtract(1.89, 2.13), 2.13)
| -0.11268 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
item 7 . management 2019s discussion and analysis of financial condition and results of operations our management 2019s discussion and analysis of financial condition and results of operations ( md&a ) is provided in addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of operations , financial condition , and cash flows . md&a is organized as follows : 2022 overview . discussion of our business and overall analysis of financial and other highlights affecting the company in order to provide context for the remainder of md&a . 2022 critical accounting estimates . accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts . 2022 results of operations . an analysis of our financial results comparing 2013 to 2012 and comparing 2012 to 2022 liquidity and capital resources . an analysis of changes in our balance sheets and cash flows , and discussion of our financial condition and potential sources of liquidity . 2022 fair value of financial instruments . discussion of the methodologies used in the valuation of our financial instruments . 2022 contractual obligations and off-balance-sheet arrangements . overview of contractual obligations , contingent liabilities , commitments , and off-balance-sheet arrangements outstanding as of december 28 , 2013 , including expected payment schedule . the various sections of this md&a contain a number of forward-looking statements that involve a number of risks and uncertainties . words such as 201canticipates , 201d 201cexpects , 201d 201cintends , 201d 201cplans , 201d 201cbelieves , 201d 201cseeks , 201d 201cestimates , 201d 201ccontinues , 201d 201cmay , 201d 201cwill , 201d 201cshould , 201d and variations of such words and similar expressions are intended to identify such forward-looking statements . in addition , any statements that refer to projections of our future financial performance , our anticipated growth and trends in our businesses , uncertain events or assumptions , and other characterizations of future events or circumstances are forward-looking statements . such statements are based on our current expectations and could be affected by the uncertainties and risk factors described throughout this filing and particularly in 201crisk factors 201d in part i , item 1a of this form 10-k . our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 . overview our results of operations for each period were as follows: .
Table
( dollars in millions except per share amounts ) | three months ended dec . 282013 | three months ended sept . 282013 | three months ended change | three months ended dec . 282013 | three months ended dec . 292012 | change
net revenue | $ 13834 | $ 13483 | $ 351 | $ 52708 | $ 53341 | $ -633 ( 633 )
gross margin | $ 8571 | $ 8414 | $ 157 | $ 31521 | $ 33151 | $ -1630 ( 1630 )
gross margin percentage | 62.0% ( 62.0 % ) | 62.4% ( 62.4 % ) | ( 0.4 ) % ( % ) | 59.8% ( 59.8 % ) | 62.1% ( 62.1 % ) | ( 2.3 ) % ( % )
operating income | $ 3549 | $ 3504 | $ 45 | $ 12291 | $ 14638 | $ -2347 ( 2347 )
net income | $ 2625 | $ 2950 | $ -325 ( 325 ) | $ 9620 | $ 11005 | $ -1385 ( 1385 )
diluted earnings per common share | $ 0.51 | $ 0.58 | $ -0.07 ( 0.07 ) | $ 1.89 | $ 2.13 | $ -0.24 ( 0.24 )
revenue for 2013 was down 1% ( 1 % ) from 2012 . pccg experienced lower platform unit sales in the first half of the year , but saw offsetting growth in the back half as the pc market began to show signs of stabilization . dcg continued to benefit from the build out of internet cloud computing and the strength of our product portfolio resulting in increased platform volumes for dcg for the year . higher factory start-up costs for our next-generation 14nm process technology led to a decrease in gross margin compared to 2012 . in response to the current business environment and to better align resources , management approved several restructuring actions including targeted workforce reductions as well as the exit of certain businesses and facilities . these actions resulted in restructuring and asset impairment charges of $ 240 million for 2013 . table of contents .
Question:
what was the percentage change in diluted earnings per common share december 29 2012 and december 28 2013?
Important information:
text_17: our actual results may differ materially , and these forward-looking statements do not reflect the potential impact of any divestitures , mergers , acquisitions , or other business combinations that had not been completed as of february 14 , 2014 .
text_18: overview our results of operations for each period were as follows: .
table_6: ( dollars in millions except per share amounts ) the diluted earnings per common share of three months ended dec . 282013 is $ 0.51 ; the diluted earnings per common share of three months ended sept . 282013 is $ 0.58 ; the diluted earnings per common share of three months ended change is $ -0.07 ( 0.07 ) ; the diluted earnings per common share of three months ended dec . 282013 is $ 1.89 ; the diluted earnings per common share of three months ended dec . 292012 is $ 2.13 ; the diluted earnings per common share of change is $ -0.24 ( 0.24 ) ;
Reasoning Steps:
Step: minus2-1(1.89, 2.13) = -.24
Step: divide2-2(#0, 2.13) = -11%
Program:
subtract(1.89, 2.13), divide(#0, 2.13)
Program (Nested):
divide(subtract(1.89, 2.13), 2.13)
| finqa608 |
what would 2014 capital expenditures have been without the early buyout of the operating lease of the headquarters , in millions?
Important information:
text_10: investing activities higher capital investments , including the early buyout of the long-term operating lease of our headquarters building for approximately $ 261 million , drove the increase in cash used in investing activities compared to 2013 .
text_12: capital investments in 2014 also included $ 99 million for the early buyout of locomotives and freight cars under long-term operating leases , which we exercised due to favorable economic terms and market conditions .
text_14: included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions. .
Reasoning Steps:
Step: add1-1(4249, 261) = 4510
Program:
add(4249, 261)
Program (Nested):
add(4249, 261)
| 4510.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
we have adequate access to capital markets to meet any foreseeable cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows millions 2014 2013 2012 .
Table
cash flowsmillions | 2014 | 2013 | 2012
cash provided by operating activities | $ 7385 | $ 6823 | $ 6161
cash used in investing activities | -4249 ( 4249 ) | -3405 ( 3405 ) | -3633 ( 3633 )
cash used in financing activities | -2982 ( 2982 ) | -3049 ( 3049 ) | -2682 ( 2682 )
net change in cash and cashequivalents | $ 154 | $ 369 | $ -154 ( 154 )
operating activities higher net income in 2014 increased cash provided by operating activities compared to 2013 , despite higher income tax payments . 2014 income tax payments were higher than 2013 primarily due to higher income , but also because we paid taxes previously deferred by bonus depreciation ( discussed below ) . higher net income in 2013 increased cash provided by operating activities compared to 2012 . in addition , we made payments in 2012 for past wages as a result of national labor negotiations , which reduced cash provided by operating activities in 2012 . lower tax benefits from bonus depreciation ( as discussed below ) partially offset the increases . federal tax law provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012-2013 . as a result , the company deferred a substantial portion of its 2011-2013 income tax expense , contributing to the positive operating cash flow in those years . congress extended 50% ( 50 % ) bonus depreciation for 2014 , but this extension occurred in december and did not have a significant benefit on our income tax payments during 2014 . investing activities higher capital investments , including the early buyout of the long-term operating lease of our headquarters building for approximately $ 261 million , drove the increase in cash used in investing activities compared to 2013 . significant investments also were made for new locomotives , freight cars and containers , and capacity and commercial facility projects . capital investments in 2014 also included $ 99 million for the early buyout of locomotives and freight cars under long-term operating leases , which we exercised due to favorable economic terms and market conditions . lower capital investments in locomotives and freight cars in 2013 drove the decrease in cash used in investing activities compared to 2012 . included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions. .
Question:
what would 2014 capital expenditures have been without the early buyout of the operating lease of the headquarters , in millions?
Important information:
text_10: investing activities higher capital investments , including the early buyout of the long-term operating lease of our headquarters building for approximately $ 261 million , drove the increase in cash used in investing activities compared to 2013 .
text_12: capital investments in 2014 also included $ 99 million for the early buyout of locomotives and freight cars under long-term operating leases , which we exercised due to favorable economic terms and market conditions .
text_14: included in capital investments in 2012 was $ 75 million for the early buyout of 165 locomotives under long-term operating and capital leases during the first quarter of 2012 , which we exercised due to favorable economic terms and market conditions. .
Reasoning Steps:
Step: add1-1(4249, 261) = 4510
Program:
add(4249, 261)
Program (Nested):
add(4249, 261)
| finqa609 |
what is the percent of the total backlog for ingalls as part of the total backlog
Important information:
text_12: backlog total backlog as of december 31 , 2014 , was approximately $ 21 billion .
table_1: ( $ in millions ) the ingalls of december 31 2014 funded is $ 5609 ; the ingalls of december 31 2014 unfunded is $ 1889 ; the ingalls of december 31 2014 total backlog is $ 7498 ; the ingalls of december 31 2014 funded is $ 6335 ; the ingalls of december 31 2014 unfunded is $ 2570 ; the ingalls of total backlog is $ 8905 ;
table_4: ( $ in millions ) the total backlog of december 31 2014 funded is $ 11832 ; the total backlog of december 31 2014 unfunded is $ 9598 ; the total backlog of december 31 2014 total backlog is $ 21430 ; the total backlog of december 31 2014 funded is $ 11830 ; the total backlog of december 31 2014 unfunded is $ 6208 ; the total backlog of total backlog is $ 18038 ;
Reasoning Steps:
Step: divide1-1(8905, 18038) = 49.3%
Program:
divide(8905, 18038)
Program (Nested):
divide(8905, 18038)
| 0.49368 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
uss abraham lincoln rcoh , the construction preparation contract for cvn-79 john f . kennedy and the inactivation contract for cvn-65 uss enterprise , partially offset by lower volumes on the execution contract for the cvn-71 uss theodore roosevelt rcoh and the construction and engineering contracts for cvn-78 gerald r . ford . higher revenues in fleet support services were primarily the result of volumes associated with repair work on ssn-765 uss montpelier . increased submarines revenues were related to the ssn-774 virginia-class submarine program , primarily driven by higher volumes on block iii boats and the advance procurement contract on block iv boats , partially offset by lower volumes on block ii boats following the delivery of ssn-783 uss minnesota . segment operating income 2014 - newport news operating income in 2014 was $ 415 million , compared to income of $ 402 million in 2013 . the increase was primarily related to the volume changes discussed above and higher risk retirement on the construction contract for cvn-78 gerald r . ford , offset by lower risk retirement on the cvn-71 uss theodore roosevelt rcoh . 2013 - newport news operating income in 2013 was $ 402 million , compared to income of $ 372 million in 2012 . the increase was primarily related to the ssn-774 virginia-class submarine program , driven by risk retirement , performance improvement and the favorable resolution of outstanding contract changes , as well as risk retirement on the execution contract for the cvn-71 uss theodore roosevelt rcoh and the absence in 2013 of the workers' compensation expense adjustment recorded in 2012 , partially offset by the favorable resolution in 2012 of outstanding contract changes on the cvn-65 uss enterprise edsra . revenues at our other segment for the year ended december 31 , 2014 , were $ 137 million , primarily due to the acquisition of upi on may 30 , 2014 . other operating loss for the year ended december 31 , 2014 , was $ 59 million , primarily due to the goodwill impairment charge of $ 47 million described above . backlog total backlog as of december 31 , 2014 , was approximately $ 21 billion . total backlog includes both funded backlog ( firm orders for which funding is contractually obligated by the customer ) and unfunded backlog ( firm orders for which funding is not currently contractually obligated by the customer ) . backlog excludes unexercised contract options and unfunded indefinite delivery/indefinite quantity orders . for contracts having no stated contract values , backlog includes only the amounts committed by the customer . the following table presents funded and unfunded backlog by segment as of december 31 , 2014 and 2013: .
Table
( $ in millions ) | december 31 2014 funded | december 31 2014 unfunded | december 31 2014 total backlog | december 31 2014 funded | december 31 2014 unfunded | total backlog
ingalls | $ 5609 | $ 1889 | $ 7498 | $ 6335 | $ 2570 | $ 8905
newport news | 6158 | 7709 | 13867 | 5495 | 3638 | 9133
other | 65 | 2014 | 65 | 2014 | 2014 | 2014
total backlog | $ 11832 | $ 9598 | $ 21430 | $ 11830 | $ 6208 | $ 18038
we expect approximately 28% ( 28 % ) of the $ 21 billion total backlog as of december 31 , 2014 , to be converted into sales in 2015 . u.s . government orders comprised substantially all of the backlog as of december 31 , 2014 and 2013 . awards 2014 - the value of new contract awards during the year ended december 31 , 2014 , was approximately $ 10.1 billion . significant new awards in 2014 included contracts for block iv of the ssn-774 virginia-class submarine program , continued construction preparation for cvn-79 john f . kennedy and construction of nsc-7 kimball . 2013 - the value of new contract awards during the year ended december 31 , 2013 , was approximately $ 9.4 billion . significant new awards in 2013 included contracts for the construction of five ddg-51 arleigh burke-class this proof is printed at 96% ( 96 % ) of original size this line represents final trim and will not print .
Question:
what is the percent of the total backlog for ingalls as part of the total backlog
Important information:
text_12: backlog total backlog as of december 31 , 2014 , was approximately $ 21 billion .
table_1: ( $ in millions ) the ingalls of december 31 2014 funded is $ 5609 ; the ingalls of december 31 2014 unfunded is $ 1889 ; the ingalls of december 31 2014 total backlog is $ 7498 ; the ingalls of december 31 2014 funded is $ 6335 ; the ingalls of december 31 2014 unfunded is $ 2570 ; the ingalls of total backlog is $ 8905 ;
table_4: ( $ in millions ) the total backlog of december 31 2014 funded is $ 11832 ; the total backlog of december 31 2014 unfunded is $ 9598 ; the total backlog of december 31 2014 total backlog is $ 21430 ; the total backlog of december 31 2014 funded is $ 11830 ; the total backlog of december 31 2014 unfunded is $ 6208 ; the total backlog of total backlog is $ 18038 ;
Reasoning Steps:
Step: divide1-1(8905, 18038) = 49.3%
Program:
divide(8905, 18038)
Program (Nested):
divide(8905, 18038)
| finqa610 |
north american consumer packaging net sales where what percentage of consumer packaging sales in 2009?
Important information:
table_1: in millions the sales of 2009 is $ 3060 ; the sales of 2008 is $ 3195 ; the sales of 2007 is $ 3015 ;
table_2: in millions the operating profit of 2009 is 433 ; the operating profit of 2008 is 17 ; the operating profit of 2007 is 112 ;
text_25: north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 .
Reasoning Steps:
Step: multiply1-1(2.2, const_1000) = 2200
Step: divide1-2(#0, 3060) = 72%
Program:
multiply(2.2, const_1000), divide(#0, 3060)
Program (Nested):
divide(multiply(2.2, const_1000), 3060)
| 0.71895 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
for uncoated freesheet paper and market pulp announced at the end of 2009 become effective . input costs are expected to be higher due to wood supply constraints at the kwidzyn mill and annual tariff increases on energy in russia . planned main- tenance outage costs are expected to be about flat , while operating costs should be favorable . asian printing papers net sales were approx- imately $ 50 million in 2009 compared with approx- imately $ 20 million in both 2008 and 2007 . operating earnings increased slightly in 2009 compared with 2008 , but were less than $ 1 million in all periods . u.s . market pulp net sales in 2009 totaled $ 575 million compared with $ 750 million in 2008 and $ 655 million in 2007 . operating earnings in 2009 were $ 140 million ( a loss of $ 71 million excluding alter- native fuel mixture credits and plant closure costs ) compared with a loss of $ 156 million ( a loss of $ 33 million excluding costs associated with the perma- nent shutdown of the bastrop mill ) in 2008 and earn- ings of $ 78 million in 2007 . sales volumes in 2009 decreased from 2008 levels due to weaker global demand . average sales price realizations were significantly lower as the decline in demand resulted in significant price declines for market pulp and smaller declines in fluff pulp . input costs for wood , energy and chemicals decreased , and freight costs were significantly lower . mill operating costs were favorable across all mills , and planned maintenance downtime costs were lower . lack-of-order downtime in 2009 increased to approx- imately 540000 tons , including 480000 tons related to the permanent shutdown of our bastrop mill in the fourth quarter of 2008 , compared with 135000 tons in 2008 . in the first quarter of 2010 , sales volumes are expected to increase slightly , reflecting improving customer demand for fluff pulp , offset by slightly seasonally weaker demand for softwood and hard- wood pulp in china . average sales price realizations are expected to improve , reflecting the realization of previously announced sales price increases for fluff pulp , hardwood pulp and softwood pulp . input costs are expected to increase for wood , energy and chemicals , and freight costs may also increase . planned maintenance downtime costs will be higher , but operating costs should be about flat . consumer packaging demand and pricing for consumer packaging prod- ucts correlate closely with consumer spending and general economic activity . in addition to prices and volumes , major factors affecting the profitability of consumer packaging are raw material and energy costs , freight costs , manufacturing efficiency and product mix . consumer packaging net sales in 2009 decreased 4% ( 4 % ) compared with 2008 and increased 1% ( 1 % ) compared with 2007 . operating profits increased significantly compared with both 2008 and 2007 . excluding alternative fuel mixture credits and facility closure costs , 2009 operating profits were sig- nificantly higher than 2008 and 57% ( 57 % ) higher than 2007 . benefits from higher average sales price realizations ( $ 114 million ) , lower raw material and energy costs ( $ 114 million ) , lower freight costs ( $ 21 million ) , lower costs associated with the reorganiza- tion of the shorewood business ( $ 23 million ) , favor- able foreign exchange effects ( $ 14 million ) and other items ( $ 12 million ) were partially offset by lower sales volumes and increased lack-of-order downtime ( $ 145 million ) and costs associated with the perma- nent shutdown of the franklin mill ( $ 67 million ) . additionally , operating profits in 2009 included $ 330 million of alternative fuel mixture credits . consumer packaging in millions 2009 2008 2007 .
Table
in millions | 2009 | 2008 | 2007
sales | $ 3060 | $ 3195 | $ 3015
operating profit | 433 | 17 | 112
north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 . operating earnings in 2009 were $ 343 million ( $ 87 million excluding alter- native fuel mixture credits and facility closure costs ) compared with $ 8 million ( $ 38 million excluding facility closure costs ) in 2008 and $ 70 million in 2007 . coated paperboard sales volumes were lower in 2009 compared with 2008 reflecting weaker market conditions . average sales price realizations were significantly higher , reflecting the full-year realization of price increases implemented in the second half of 2008 . raw material costs for wood , energy and chemicals were significantly lower in 2009 , while freight costs were also favorable . operating costs , however , were unfavorable and planned main- tenance downtime costs were higher . lack-of-order downtime increased to 300000 tons in 2009 from 15000 tons in 2008 due to weak demand . operating results in 2009 include income of $ 330 million for alternative fuel mixture credits and $ 67 million of expenses for shutdown costs for the franklin mill . foodservice sales volumes were lower in 2009 than in 2008 due to generally weak world-wide economic conditions . average sales price realizations were .
Question:
north american consumer packaging net sales where what percentage of consumer packaging sales in 2009?
Important information:
table_1: in millions the sales of 2009 is $ 3060 ; the sales of 2008 is $ 3195 ; the sales of 2007 is $ 3015 ;
table_2: in millions the operating profit of 2009 is 433 ; the operating profit of 2008 is 17 ; the operating profit of 2007 is 112 ;
text_25: north american consumer packaging net sales were $ 2.2 billion compared with $ 2.5 billion in 2008 and $ 2.4 billion in 2007 .
Reasoning Steps:
Step: multiply1-1(2.2, const_1000) = 2200
Step: divide1-2(#0, 3060) = 72%
Program:
multiply(2.2, const_1000), divide(#0, 3060)
Program (Nested):
divide(multiply(2.2, const_1000), 3060)
| finqa611 |
by what percentage will the 2019 pre-tax pension and postretirement expense be higher than that of 2018?
Important information:
table_2: the postretirement plans of 2018 is 3.97% ( 3.97 % ) ; the postretirement plans of 2017 is 3.79% ( 3.79 % ) ;
text_31: we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $ 205 million as compared with approximately $ 160 million in 2018 , excluding amounts related to employee severance and early retirement programs .
text_34: a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $ 50 million , and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement .
Reasoning Steps:
Step: minus1-1(205, 160) = 45
Step: divide1-2(#0, 160) = 28.1%
Program:
subtract(205, 160), divide(#0, 160)
Program (Nested):
divide(subtract(205, 160), 160)
| 0.28125 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
inventory on hand , as well as our future purchase commitments with our suppliers , considering multiple factors , including demand forecasts , product life cycle , current sales levels , pricing strategy and cost trends . if our review indicates that inventories of raw materials , components or finished products have become obsolete or are in excess of anticipated demand or that inventory cost exceeds net realizable value , we may be required to make adjustments that will impact the results of operations . goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review . while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists , the company elects to perform the quantitative assessment for our annual impairment analysis . the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value . if the carrying value exceeds the fair value , goodwill or a non-amortizable intangible asset is considered impaired . to determine the fair value of goodwill , we primarily use a discounted cash flow model , supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry . at december 31 , 2018 , the carrying value of our goodwill was $ 7.2 billion , which is related to ten reporting units , each of which consists of a group of markets with similar economic characteristics . the estimated fair value of each of our ten reporting units exceeded the carrying value as of december 31 , 2018 . to determine the fair value of non-amortizable intangible assets , we primarily use a discounted cash flow model applying the relief-from-royalty method . we concluded that the fair value of our non- amortizable intangible assets exceeded the carrying value . these discounted cash flow models include management assumptions relevant for forecasting operating cash flows , which are subject to changes in business conditions , such as volumes and prices , costs to produce , discount rates and estimated capital needs . management considers historical experience and all available information at the time the fair values are estimated , and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use . since the march 28 , 2008 , spin-off from altria group , inc. , we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets . marketing costs - we incur certain costs to support our products through programs that include advertising , marketing , consumer engagement and trade promotions . the costs of our advertising and marketing programs are expensed in accordance with u.s . gaap . recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program . for volume-based incentives provided to customers , management continually assesses and estimates , by customer , the likelihood of the customer's achieving the specified targets , and records the reduction of revenue as the sales are made . for other trade promotions , management relies on estimated utilization rates that have been developed from historical experience . changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position , results of operations or operating cash flows . employee benefit plans - as discussed in item 8 , note 13 . benefit plans to our consolidated financial statements , we provide a range of benefits to our employees and retired employees , including pensions , postretirement health care and postemployment benefits ( primarily severance ) . we record annual amounts relating to these plans based on calculations specified by u.s . gaap . these calculations include various actuarial assumptions , such as discount rates , assumed rates of return on plan assets , compensation increases , mortality , turnover rates and health care cost trend rates . we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so . as permitted by u.s . gaap , any effect of the modifications is generally amortized over future periods . we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries . weighted-average discount rate assumptions for pension and postretirement plan obligations at december 31 , 2018 and 2017 are as follows: .
Table
| 2018 | 2017
pension plans | 1.61% ( 1.61 % ) | 1.51% ( 1.51 % )
postretirement plans | 3.97% ( 3.97 % ) | 3.79% ( 3.79 % )
we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $ 205 million as compared with approximately $ 160 million in 2018 , excluding amounts related to employee severance and early retirement programs . the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $ 14 million , coupled with lower return on assets of $ 16 million , higher interest and service cost of $ 12 million and $ 4 million respectively , partially offset by other movements of $ 1 million . weighted-average expected rate of return and discount rate assumptions have a significant effect on the amount of expense reported for the employee benefit plans . a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $ 50 million , and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement .
Question:
by what percentage will the 2019 pre-tax pension and postretirement expense be higher than that of 2018?
Important information:
table_2: the postretirement plans of 2018 is 3.97% ( 3.97 % ) ; the postretirement plans of 2017 is 3.79% ( 3.79 % ) ;
text_31: we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $ 205 million as compared with approximately $ 160 million in 2018 , excluding amounts related to employee severance and early retirement programs .
text_34: a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $ 50 million , and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement .
Reasoning Steps:
Step: minus1-1(205, 160) = 45
Step: divide1-2(#0, 160) = 28.1%
Program:
subtract(205, 160), divide(#0, 160)
Program (Nested):
divide(subtract(205, 160), 160)
| finqa612 |
did jpmorgan chase outperform the s&p 500 over the five year period?
Important information:
table_1: december 31 ( in dollars ) the jpmorgan chase of 2009 is $ 100.00 ; the jpmorgan chase of 2010 is $ 102.30 ; the jpmorgan chase of 2011 is $ 81.87 ; the jpmorgan chase of 2012 is $ 111.49 ; the jpmorgan chase of 2013 is $ 152.42 ; the jpmorgan chase of 2014 is $ 167.48 ;
table_3: december 31 ( in dollars ) the s&p financial index of 2009 is 100.00 ; the s&p financial index of 2010 is 112.13 ; the s&p financial index of 2011 is 93.00 ; the s&p financial index of 2012 is 119.73 ; the s&p financial index of 2013 is 162.34 ; the s&p financial index of 2014 is 186.98 ;
table_4: december 31 ( in dollars ) the s&p 500 index of 2009 is 100.00 ; the s&p 500 index of 2010 is 115.06 ; the s&p 500 index of 2011 is 117.48 ; the s&p 500 index of 2012 is 136.27 ; the s&p 500 index of 2013 is 180.39 ; the s&p 500 index of 2014 is 205.07 ;
Reasoning Steps:
Step: compare_larger2-1(167.48, 205.07) = no
Program:
greater(167.48, 205.07)
Program (Nested):
greater(167.48, 205.07)
| no | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
jpmorgan chase & co./2014 annual report 63 five-year stock performance the following table and graph compare the five-year cumulative total return for jpmorgan chase & co . ( 201cjpmorgan chase 201d or the 201cfirm 201d ) common stock with the cumulative return of the s&p 500 index , the kbw bank index and the s&p financial index . the s&p 500 index is a commonly referenced u.s . equity benchmark consisting of leading companies from different economic sectors . the kbw bank index seeks to reflect the performance of banks and thrifts that are publicly traded in the u.s . and is composed of 24 leading national money center and regional banks and thrifts . the s&p financial index is an index of 85 financial companies , all of which are components of the s&p 500 . the firm is a component of all three industry indices . the following table and graph assume simultaneous investments of $ 100 on december 31 , 2009 , in jpmorgan chase common stock and in each of the above indices . the comparison assumes that all dividends are reinvested . december 31 , ( in dollars ) 2009 2010 2011 2012 2013 2014 .
Table
december 31 ( in dollars ) | 2009 | 2010 | 2011 | 2012 | 2013 | 2014
jpmorgan chase | $ 100.00 | $ 102.30 | $ 81.87 | $ 111.49 | $ 152.42 | $ 167.48
kbw bank index | 100.00 | 123.36 | 94.75 | 125.91 | 173.45 | 189.69
s&p financial index | 100.00 | 112.13 | 93.00 | 119.73 | 162.34 | 186.98
s&p 500 index | 100.00 | 115.06 | 117.48 | 136.27 | 180.39 | 205.07
.
Question:
did jpmorgan chase outperform the s&p 500 over the five year period?
Important information:
table_1: december 31 ( in dollars ) the jpmorgan chase of 2009 is $ 100.00 ; the jpmorgan chase of 2010 is $ 102.30 ; the jpmorgan chase of 2011 is $ 81.87 ; the jpmorgan chase of 2012 is $ 111.49 ; the jpmorgan chase of 2013 is $ 152.42 ; the jpmorgan chase of 2014 is $ 167.48 ;
table_3: december 31 ( in dollars ) the s&p financial index of 2009 is 100.00 ; the s&p financial index of 2010 is 112.13 ; the s&p financial index of 2011 is 93.00 ; the s&p financial index of 2012 is 119.73 ; the s&p financial index of 2013 is 162.34 ; the s&p financial index of 2014 is 186.98 ;
table_4: december 31 ( in dollars ) the s&p 500 index of 2009 is 100.00 ; the s&p 500 index of 2010 is 115.06 ; the s&p 500 index of 2011 is 117.48 ; the s&p 500 index of 2012 is 136.27 ; the s&p 500 index of 2013 is 180.39 ; the s&p 500 index of 2014 is 205.07 ;
Reasoning Steps:
Step: compare_larger2-1(167.48, 205.07) = no
Program:
greater(167.48, 205.07)
Program (Nested):
greater(167.48, 205.07)
| finqa613 |
what are the total pension liability adjustment from 2004 to 2006?
Important information:
table_1: the balance as of october 1 2004 of pension adjustments is $ -786 ( 786 ) ; the balance as of october 1 2004 of accumulated other comprehensive loss is $ -786 ( 786 ) ;
table_3: the balance as of september 30 2005 of pension adjustments is -1137 ( 1137 ) ; the balance as of september 30 2005 of accumulated other comprehensive loss is -1137 ( 1137 ) ;
table_5: the balance as of september 29 2006 of pension adjustments is $ -599 ( 599 ) ; the balance as of september 29 2006 of accumulated other comprehensive loss is $ -599 ( 599 ) ;
Reasoning Steps:
Step: multiply0-0(351, const_m1) = -351
Step: add1-1(-351, 538) = 187
Program:
multiply(351, const_m1), add(#0, 538)
Program (Nested):
add(multiply(351, const_m1), 538)
| 187.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
notes to consolidated financial statements 2014 ( continued ) on historical trends and known economic and market conditions at the time of valuation . actual results may differ substantially from these assumptions . these differences may significantly impact future pension or retiree medical expenses . annual pension and retiree medical expense is principally the sum of three components : 1 ) increase in liability from interest ; less 2 ) expected return on plan assets ; and 3 ) other gains and losses as described below . the expected return on plan assets is calculated by applying an assumed long-term rate of return to the fair value of plan assets . in any given year , actual returns can differ significantly from the expected return . differences between the actual and expected return on plan assets are combined with gains or losses resulting from the revaluation of plan liabilities . plan liabilities are revalued annually , based on updated assumptions and infor- mation about the individuals covered by the plan . the combined gain or loss is generally expensed evenly over the remaining years that employees are expected to work . comprehensive income ( loss ) the company accounts for comprehensive income ( loss ) in accordance with the provisions of sfas no . 130 , 201creporting comprehensive income 201d ( 201csfas no . 130 201d ) . sfas no . 130 is a financial statement presentation standard that requires the company to disclose non-owner changes included in equity but not included in net income or loss . other items of comprehensive income ( loss ) presented in the financial statements consists of adjustments to the company 2019s minimum pension liability as follows ( in thousands ) : pension adjustments accumulated comprehensive .
Table
| pension adjustments | accumulated other comprehensive loss
balance as of october 1 2004 | $ -786 ( 786 ) | $ -786 ( 786 )
change in period | -351 ( 351 ) | -351 ( 351 )
balance as of september 30 2005 | -1137 ( 1137 ) | -1137 ( 1137 )
change in period | 538 | 538
balance as of september 29 2006 | $ -599 ( 599 ) | $ -599 ( 599 )
recently issued accounting pronouncements in november 2004 , the fasb issued sfas no . 151 , 201cinventory costs 2014 an amendment to apb no . 23 , chapter 4 201d ( 201csfas no . 151 201d ) . the amendments made by sfas no . 151 clarify that abnormal amounts of idle facility expense , freight , handling costs and wasted materials ( spoilage ) should be recognized as current-period charges and require the allocation of fixed production overheads to inventory based on the normal capacity of the production facilities . the guidance is effective for inventory costs incurred during fiscal years beginning after june 15 , 2005 . the company adopted sfas no . 151 on october 1 , 2005 and it did not have a material impact on its financial statements in fiscal 2006 . in december 2004 , the fasb issued sfas no . 153 , 201cexchanges of nonmonetary assets 2014 an amend- ment of apb opinion no . 29 201d ( 201csfas no . 153 201d ) . the guidance in apb opinion no . 29 , 201caccounting for nonmonetary transactions 201d ( 201capb no . 29 201d ) is based on the principle that exchanges of nonmonetary assets should be measured based on the fair value of the assets exchanged . the guidance in apb no . 29 , however , included certain exceptions to that principle . sfas no . 153 amends apb no . 29 to eliminate the exception for nonmonetary exchanges of similar productive assets and replaces it with a general exception for exchanges of nonmonetary assets that do not have commercial substance . sfas no . 153 is effective for such exchange transactions occurring in fiscal periods beginning after june 15 , 2005 . the company adopted sfas no . 153 on october 1 , 2005 and it did not have a material impact on its financial statements in fiscal 2006 . in may 2005 , the fasb issued sfas no . 154 , 201caccounting changes and error corrections 2014 a replacement of apb opinion no . 20 and fasb statement no . 3 201d ( 201csfas no . 154 201d ) . this statement replaces apb opinion no . 20 , 201caccounting changes 201d and fasb statement no . 3 , 201creporting accounting changes in interim financial statements 2014 an amendment of apb opinion no . 28 , 201d and also changes the .
Question:
what are the total pension liability adjustment from 2004 to 2006?
Important information:
table_1: the balance as of october 1 2004 of pension adjustments is $ -786 ( 786 ) ; the balance as of october 1 2004 of accumulated other comprehensive loss is $ -786 ( 786 ) ;
table_3: the balance as of september 30 2005 of pension adjustments is -1137 ( 1137 ) ; the balance as of september 30 2005 of accumulated other comprehensive loss is -1137 ( 1137 ) ;
table_5: the balance as of september 29 2006 of pension adjustments is $ -599 ( 599 ) ; the balance as of september 29 2006 of accumulated other comprehensive loss is $ -599 ( 599 ) ;
Reasoning Steps:
Step: multiply0-0(351, const_m1) = -351
Step: add1-1(-351, 538) = 187
Program:
multiply(351, const_m1), add(#0, 538)
Program (Nested):
add(multiply(351, const_m1), 538)
| finqa614 |
what was the change in industry segment operating profits between 2004 and 2005?
Important information:
table_1: in millions the industry segment operating profits of 2005 is $ 1923 ; the industry segment operating profits of 2004 is $ 2040 ; the industry segment operating profits of 2003 is $ 1734 ;
table_7: in millions the discontinued operations of 2005 is 241 ; the discontinued operations of 2004 is -491 ( 491 ) ; the discontinued operations of 2003 is 57 ;
table_9: in millions the net earnings ( loss ) of 2005 is $ 1100 ; the net earnings ( loss ) of 2004 is $ -35 ( 35 ) ; the net earnings ( loss ) of 2003 is $ 302 ;
Reasoning Steps:
Step: minus1-1(1923, 2040) = -117
Program:
subtract(1923, 2040)
Program (Nested):
subtract(1923, 2040)
| -117.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
item 7 . management 2019s discussion and analysis of financial condition and results of operations executive summary international paper 2019s operating results in 2005 were strongly impacted by significantly higher costs for en- ergy , wood , caustic soda and other raw materials which reduced operating profits compared with 2004 by $ 586 million . lower sales volumes were also a negative factor versus 2004 as we took a significant amount of lack-of-order downtime in our u.s . uncoated paper and containerboard mills , and downtime in our eastern european operations to rebuild paper machines in po- land and russia to add needed uncoated paper and pa- perboard capacity . we were able to partially offset some of these negative impacts through operational improvements in our manufacturing operations , im- proved average pricing for our paper and packaging grades , a more favorable product mix , and higher earn- ings from forestland and real estate sales . looking forward to 2006 , we expect operating prof- its for the first quarter to be flat with the 2005 fourth quarter . sales volumes should be seasonally slow in the quarter , but should show some improvement as the quarter progresses . price realizations should also improve as previously announced price increases are im- plemented . while energy , wood and raw material price movements are mixed , their impact for the quarter is expected to be flat . however , we see favorable signs of positive mo- mentum for the remainder of 2006 . we anticipate that demand in north america for both uncoated paper and industrial packaging products will be stronger , and that we will realize 2005 fourth-quarter and 2006 first-quarter announced price increases . additionally , operating rates should improve in 2006 reflecting announced industry capacity reductions in uncoated papers and container- board . we are also starting to see some reductions in natural gas and southern wood costs that , if the trend continues , should benefit operations as the year pro- gresses . in connection with our overall strategic direction , we are evaluating options for the possible sale or spin-off of certain of our businesses as previously announced in our transformation plan , with decisions on certain businesses anticipated during 2006 . we also will con- tinue to improve our key operations in north america by realigning our uncoated and packaging mill oper- ations to reduce costs , improve our products and im- prove our overall profitability . results of operations industry segment operating profits are used by international paper 2019s management to measure the earn- ings performance of its businesses . management believes that this measure allows a better understanding of trends in costs , operating efficiencies , prices and volumes . in- dustry segment operating profits are defined as earnings before taxes and minority interest , interest expense , corporate items and corporate special items . industry segment operating profits are defined by the securities and exchange commission as a non-gaap financial measure , and are not gaap alternatives to net income or any other operating measure prescribed by accounting principles generally accepted in the united states . international paper operates in six segments : print- ing papers , industrial packaging , consumer packaging , distribution , forest products , and specialty businesses and other . the following table shows the components of net earnings ( loss ) for each of the last three years : in millions 2005 2004 2003 .
Table
in millions | 2005 | 2004 | 2003
industry segment operating profits | $ 1923 | $ 2040 | $ 1734
corporate items | -597 ( 597 ) | -469 ( 469 ) | -466 ( 466 )
corporate special items* | -147 ( 147 ) | -142 ( 142 ) | -281 ( 281 )
interest expense net | -593 ( 593 ) | -710 ( 710 ) | -705 ( 705 )
minority interest | -12 ( 12 ) | -21 ( 21 ) | -80 ( 80 )
income tax benefit ( provision ) | 285 | -242 ( 242 ) | 56
discontinued operations | 241 | -491 ( 491 ) | 57
accounting changes | 2013 | 2013 | -13 ( 13 )
net earnings ( loss ) | $ 1100 | $ -35 ( 35 ) | $ 302
* special items include restructuring and other charges , net losses on sales and impair- ments of businesses held for sale , insurance recoveries and reversals of reserves no lon- ger required . industry segment operating profits were $ 117 mil- lion lower in 2005 due principally to the impact of higher energy and raw material costs ( $ 586 million ) , lower sales volume ( $ 251 million ) , and unfavorable for- eign currency translation rates ( $ 27 million ) which more than offset the benefits from higher average prices ( $ 478 million ) , cost reduction initiatives , improved operating performance and a more favorable product mix ( $ 235 million ) , and higher earnings from land sales ( $ 158 million ) . the impact of divestitures ( $ 32 million ) , principally the fine papers and industrial pa- pers businesses , and other items ( $ 36 million ) also had a negative impact in 2005 . segment operating profit ( in millions ) .
Question:
what was the change in industry segment operating profits between 2004 and 2005?
Important information:
table_1: in millions the industry segment operating profits of 2005 is $ 1923 ; the industry segment operating profits of 2004 is $ 2040 ; the industry segment operating profits of 2003 is $ 1734 ;
table_7: in millions the discontinued operations of 2005 is 241 ; the discontinued operations of 2004 is -491 ( 491 ) ; the discontinued operations of 2003 is 57 ;
table_9: in millions the net earnings ( loss ) of 2005 is $ 1100 ; the net earnings ( loss ) of 2004 is $ -35 ( 35 ) ; the net earnings ( loss ) of 2003 is $ 302 ;
Reasoning Steps:
Step: minus1-1(1923, 2040) = -117
Program:
subtract(1923, 2040)
Program (Nested):
subtract(1923, 2040)
| finqa615 |
in these equity investment balances , what is the percent of unfunded commitments at december 31 , 2013?
Important information:
text_17: these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 .
text_18: these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively .
text_28: see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 .
Reasoning Steps:
Step: divide1-1(802, 10664) = 7.5%
Program:
divide(802, 10664)
Program (Nested):
divide(802, 10664)
| 0.07521 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
market risk management 2013 equity and other investment risk equity investment risk is the risk of potential losses associated with investing in both private and public equity markets . pnc invests primarily in private equity markets . in addition to extending credit , taking deposits , and underwriting and trading financial instruments , we make and manage direct investments in a variety of transactions , including management buyouts , recapitalizations , and growth financings in a variety of industries . we also have investments in affiliated and non- affiliated funds that make similar investments in private equity and in debt and equity-oriented hedge funds . the economic and/or book value of these investments and other assets such as loan servicing rights are directly affected by changes in market factors . the primary risk measurement for equity and other investments is economic capital . economic capital is a common measure of risk for credit , market and operational risk . it is an estimate of the potential value depreciation over a one year horizon commensurate with solvency expectations of an institution rated single-a by the credit rating agencies . given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values . see note 9 fair value in the notes to consolidated financial statements in item 8 of this report for additional information . various pnc business units manage our equity and other investment activities . our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines . a summary of our equity investments follows : table 55 : equity investments summary in millions december 31 december 31 .
Table
in millions | december 312013 | december 312012
blackrock | $ 5940 | $ 5614
tax credit investments | 2676 | 2965
private equity | 1656 | 1802
visa | 158 | 251
other | 234 | 245
total | $ 10664 | $ 10877
blackrock pnc owned approximately 36 million common stock equivalent shares of blackrock equity at december 31 , 2013 , accounted for under the equity method . the primary risk measurement , similar to other equity investments , is economic capital . the business segments review section of this item 7 includes additional information about blackrock . tax credit investments included in our equity investments are tax credit investments which are accounted for under the equity method . these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 . these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively . these unfunded commitments are included in other liabilities on our consolidated balance sheet . note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments . see also the critical accounting estimates and judgments section of this item 7 regarding asu 2014-01 and our intention to early adopt this guidance in the first quarter of 2014 . private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment . private equity investments carried at estimated fair value totaled $ 1.7 billion at december 31 , 2013 and $ 1.8 billion at december 31 , 2012 . as of december 31 , 2013 , $ 1.1 billion was invested directly in a variety of companies and $ .6 billion was invested indirectly through various private equity funds . included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes . the noncontrolling interests of these funds totaled $ 236 million as of december 31 , 2013 . the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments . see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 . during 2013 , we sold 4 million of visa class b common shares , in addition to the 9 million shares sold in 2012 , and entered into swap agreements with the purchaser of the shares . see note 9 fair value and note 17 financial derivatives in the notes to consolidated financial statements in item 8 of this report for additional information . at december 31 , 2013 , our investment in visa class b common shares totaled approximately 10 million shares and was recorded at $ 158 million . based on the december 31 , 2013 closing price of $ 222.68 for the visa class a common shares , the fair value of our total investment was approximately $ 971 million at the 94 the pnc financial services group , inc . 2013 form 10-k .
Question:
in these equity investment balances , what is the percent of unfunded commitments at december 31 , 2013?
Important information:
text_17: these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 .
text_18: these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively .
text_28: see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 .
Reasoning Steps:
Step: divide1-1(802, 10664) = 7.5%
Program:
divide(802, 10664)
Program (Nested):
divide(802, 10664)
| finqa616 |
as of december 31 , 2016 , what percentage of manufacturing and processing facilities are owned?
Important information:
text_4: our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois .
text_9: as of december 31 , 2016 , we operated 87 manufacturing and processing facilities .
text_10: we own 83 and lease four of these facilities .
Reasoning Steps:
Step: divide1-1(83, 87) = 95.4%
Program:
divide(83, 87)
Program (Nested):
divide(83, 87)
| 0.95402 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
item 1b . unresolved staff comments . item 2 . properties . our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois . our co-headquarters are leased and house our executive offices , certain u.s . business units , and our administrative , finance , and human resource functions . we maintain additional owned and leased offices throughout the regions in which we operate . we manufacture our products in our network of manufacturing and processing facilities located throughout the world . as of december 31 , 2016 , we operated 87 manufacturing and processing facilities . we own 83 and lease four of these facilities . our manufacturing and processing facilities count by segment as of december 31 , 2016 was: .
Table
| owned | leased
united states | 43 | 2
canada | 3 | 2014
europe | 11 | 2014
rest of world | 26 | 2
we maintain all of our manufacturing and processing facilities in good condition and believe they are suitable and are adequate for our present needs . we also enter into co-manufacturing arrangements with third parties if we determine it is advantageous to outsource the production of any of our products . in the fourth quarter of 2016 , we reorganized our segment structure to move our russia business from the rest of world segment to the europe segment . we have reflected this change in the table above . see note 18 , segment reporting , to the consolidated financial statements for additional information . several of our current manufacturing and processing facilities are scheduled to be closed within the next year . see note 3 , integration and restructuring expenses , to the consolidated financial statements for additional information . item 3 . legal proceedings . we are routinely involved in legal proceedings , claims , and governmental inquiries , inspections or investigations ( 201clegal matters 201d ) arising in the ordinary course of our business . on april 1 , 2015 , the commodity futures trading commission ( 201ccftc 201d ) filed a formal complaint against mondel 0113z international ( formerly known as kraft foods inc. ) and kraft in the u.s . district court for the northern district of illinois , eastern division , related to activities involving the trading of december 2011 wheat futures contracts . the complaint alleges that mondel 0113z international and kraft ( 1 ) manipulated or attempted to manipulate the wheat markets during the fall of 2011 , ( 2 ) violated position limit levels for wheat futures , and ( 3 ) engaged in non-competitive trades by trading both sides of exchange-for-physical chicago board of trade wheat contracts . as previously disclosed by kraft , these activities arose prior to the october 1 , 2012 spin-off of kraft by mondel 0113z international to its shareholders and involve the business now owned and operated by mondel 0113z international or its affiliates . the separation and distribution agreement between kraft and mondel 0113z international , dated as of september 27 , 2012 , governs the allocation of liabilities between mondel 0113z international and kraft and , accordingly , mondel 0113z international will predominantly bear the costs of this matter and any monetary penalties or other payments that the cftc may impose . we do not expect this matter to have a material adverse effect on our financial condition , results of operations , or business . while we cannot predict with certainty the results of legal matters in which we are currently involved or may in the future be involved , we do not expect that the ultimate costs to resolve any of the legal matters that are currently pending will have a material adverse effect on our financial condition or results of operations . item 4 . mine safety disclosures . not applicable. .
Question:
as of december 31 , 2016 , what percentage of manufacturing and processing facilities are owned?
Important information:
text_4: our corporate co-headquarters are located in pittsburgh , pennsylvania and chicago , illinois .
text_9: as of december 31 , 2016 , we operated 87 manufacturing and processing facilities .
text_10: we own 83 and lease four of these facilities .
Reasoning Steps:
Step: divide1-1(83, 87) = 95.4%
Program:
divide(83, 87)
Program (Nested):
divide(83, 87)
| finqa617 |
in 2014 what was the ratio of the cash used for investment to the cash from operations
Important information:
table_1: millions the cash provided by operating activities of 2015 is $ 7344 ; the cash provided by operating activities of 2014 is $ 7385 ; the cash provided by operating activities of 2013 is $ 6823 ;
table_2: millions the cash used in investing activities of 2015 is -4476 ( 4476 ) ; the cash used in investing activities of 2014 is -4249 ( 4249 ) ; the cash used in investing activities of 2013 is -3405 ( 3405 ) ;
table_3: millions the cash used in financing activities of 2015 is -3063 ( 3063 ) ; the cash used in financing activities of 2014 is -2982 ( 2982 ) ; the cash used in financing activities of 2013 is -3049 ( 3049 ) ;
Reasoning Steps:
Step: divide1-1(3405, 6823) = 0.499
Program:
divide(3405, 6823)
Program (Nested):
divide(3405, 6823)
| 0.49905 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
at december 31 , 2015 and 2014 , we had a modest working capital surplus . this reflects a strong cash position that provides enhanced liquidity in an uncertain economic environment . in addition , we believe we have adequate access to capital markets to meet any foreseeable cash requirements , and we have sufficient financial capacity to satisfy our current liabilities . cash flows .
Table
millions | 2015 | 2014 | 2013
cash provided by operating activities | $ 7344 | $ 7385 | $ 6823
cash used in investing activities | -4476 ( 4476 ) | -4249 ( 4249 ) | -3405 ( 3405 )
cash used in financing activities | -3063 ( 3063 ) | -2982 ( 2982 ) | -3049 ( 3049 )
net change in cash and cash equivalents | $ -195 ( 195 ) | $ 154 | $ 369
operating activities cash provided by operating activities decreased in 2015 compared to 2014 due to lower net income and changes in working capital , partially offset by the timing of tax payments . federal tax law provided for 100% ( 100 % ) bonus depreciation for qualified investments made during 2011 and 50% ( 50 % ) bonus depreciation for qualified investments made during 2012-2013 . as a result , the company deferred a substantial portion of its 2011-2013 income tax expense , contributing to the positive operating cash flow in those years . congress extended 50% ( 50 % ) bonus depreciation for 2014 , but this extension occurred in december , and the related benefit was realized in 2015 , rather than 2014 . similarly , in december of 2015 , congress extended bonus depreciation through 2019 , which delayed the benefit of 2015 bonus depreciation into 2016 . bonus depreciation will be at a rate of 50% ( 50 % ) for 2015 , 2016 and 2017 , 40% ( 40 % ) for 2018 and 30% ( 30 % ) for 2019 . higher net income in 2014 increased cash provided by operating activities compared to 2013 , despite higher income tax payments . 2014 income tax payments were higher than 2013 primarily due to higher income , but also because we paid taxes previously deferred by bonus depreciation . investing activities higher capital investments in locomotives and freight cars , including $ 327 million in early lease buyouts , which we exercised due to favorable economic terms and market conditions , drove the increase in cash used in investing activities in 2015 compared to 2014 . higher capital investments , including the early buyout of the long-term operating lease of our headquarters building for approximately $ 261 million , drove the increase in cash used in investing activities in 2014 compared to 2013 . significant investments also were made for new locomotives , freight cars and containers , and capacity and commercial facility projects . capital investments in 2014 also included $ 99 million for the early buyout of locomotives and freight cars under long-term operating leases , which we exercised due to favorable economic terms and market conditions. .
Question:
in 2014 what was the ratio of the cash used for investment to the cash from operations
Important information:
table_1: millions the cash provided by operating activities of 2015 is $ 7344 ; the cash provided by operating activities of 2014 is $ 7385 ; the cash provided by operating activities of 2013 is $ 6823 ;
table_2: millions the cash used in investing activities of 2015 is -4476 ( 4476 ) ; the cash used in investing activities of 2014 is -4249 ( 4249 ) ; the cash used in investing activities of 2013 is -3405 ( 3405 ) ;
table_3: millions the cash used in financing activities of 2015 is -3063 ( 3063 ) ; the cash used in financing activities of 2014 is -2982 ( 2982 ) ; the cash used in financing activities of 2013 is -3049 ( 3049 ) ;
Reasoning Steps:
Step: divide1-1(3405, 6823) = 0.499
Program:
divide(3405, 6823)
Program (Nested):
divide(3405, 6823)
| finqa618 |
what is the growth rate in the price of shares from the highest value during the quarter ended december 31 , 2008 and the closing price on february 13 , 2009?
Important information:
table_4: 2008 the quarter ended december 31 of high is 37.28 ; the quarter ended december 31 of low is 19.35 ;
table_9: 2008 the quarter ended december 31 of high is 46.53 ; the quarter ended december 31 of low is 40.08 ;
text_2: on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse .
Reasoning Steps:
Step: minus2-1(37.28, 28.85) = 8.43
Step: divide2-2(#0, 28.85) = 29.2%
Program:
subtract(37.28, 28.85), divide(#0, 28.85)
Program (Nested):
divide(subtract(37.28, 28.85), 28.85)
| 0.2922 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2008 and 2007. .
Table
2008 | high | low
quarter ended march 31 | $ 42.72 | $ 32.10
quarter ended june 30 | 46.10 | 38.53
quarter ended september 30 | 43.43 | 31.89
quarter ended december 31 | 37.28 | 19.35
2007 | high | low
quarter ended march 31 | $ 41.31 | $ 36.63
quarter ended june 30 | 43.84 | 37.64
quarter ended september 30 | 45.45 | 36.34
quarter ended december 31 | 46.53 | 40.08
on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report. .
Question:
what is the growth rate in the price of shares from the highest value during the quarter ended december 31 , 2008 and the closing price on february 13 , 2009?
Important information:
table_4: 2008 the quarter ended december 31 of high is 37.28 ; the quarter ended december 31 of low is 19.35 ;
table_9: 2008 the quarter ended december 31 of high is 46.53 ; the quarter ended december 31 of low is 40.08 ;
text_2: on february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse .
Reasoning Steps:
Step: minus2-1(37.28, 28.85) = 8.43
Step: divide2-2(#0, 28.85) = 29.2%
Program:
subtract(37.28, 28.85), divide(#0, 28.85)
Program (Nested):
divide(subtract(37.28, 28.85), 28.85)
| finqa619 |
what was the change in millions from 2008 to 2009 under purchase commitments?
Important information:
text_1: total purchase commitments are as follows: .
table_7: the total of ( in thousands ) is $ 44572 ;
text_3: the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .
Reasoning Steps:
Step: minus2-1(37.3, 29.4) = 7.9
Program:
subtract(37.3, 29.4)
Program (Nested):
subtract(37.3, 29.4)
| 7.9 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
purchase commitments the company has entered into various purchase agreements for minimum amounts of pulpwood processing and energy over periods ranging from one to twenty years at fixed prices . total purchase commitments are as follows: .
Table
| ( in thousands )
2010 | $ 6951
2011 | 5942
2012 | 3659
2013 | 1486
2014 | 1486
thereafter | 25048
total | $ 44572
these purchase agreements are not marked to market . the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements . litigation pca is a party to various legal actions arising in the ordinary course of business . these legal actions cover a broad variety of claims spanning our entire business . as of the date of this filing , the company believes it is not reasonably possible that the resolution of these legal actions will , individually or in the aggregate , have a material adverse effect on its financial position , results of operations , or cash flows . environmental liabilities the potential costs for various environmental matters are uncertain due to such factors as the unknown magnitude of possible cleanup costs , the complexity and evolving nature of governmental laws and regulations and their interpretations , and the timing , varying costs and effectiveness of alternative cleanup technologies . from 1994 through 2009 , remediation costs at the company 2019s mills and corrugated plants totaled approximately $ 3.2 million . as of december 31 , 2009 , the company maintained an environmental reserve of $ 9.1 million relating to on-site landfills ( see note 13 ) and surface impoundments as well as ongoing and anticipated remedial projects . liabilities recorded for environmental contingencies are estimates of the probable costs based upon available information and assumptions . because of these uncertainties , pca 2019s estimates may change . as of the date of this filing , the company believes that it is not reasonably possible that future environmental expenditures and asset retirement obligations above the $ 9.1 million accrued as of december 31 , 2009 , will have a material impact on its financial condition , results of operations , or cash flows . in connection with the sale to pca of its containerboard and corrugated products business , pactiv agreed to retain all liability for all former facilities and all sites associated with pre-closing off-site waste disposal and all environmental liabilities related to a closed landfill located near the company 2019s filer city mill . 13 . asset retirement obligations asset retirement obligations consist primarily of landfill capping and closure and post-closure costs . pca is legally required to perform capping and closure and post-closure care on the landfills at each of the company 2019s mills . in accordance with asc 410 , 201c asset retirement and environmental obligations , 201d pca recognizes the fair value of these liabilities as an asset retirement obligation for each landfill and capitalizes packaging corporation of america notes to consolidated financial statements ( continued ) december 31 , 2009 .
Question:
what was the change in millions from 2008 to 2009 under purchase commitments?
Important information:
text_1: total purchase commitments are as follows: .
table_7: the total of ( in thousands ) is $ 44572 ;
text_3: the company purchased $ 37.3 million , $ 29.4 million , and $ 14.5 million during the years ended december 31 , 2009 , 2008 and 2007 , respectively , under these purchase agreements .
Reasoning Steps:
Step: minus2-1(37.3, 29.4) = 7.9
Program:
subtract(37.3, 29.4)
Program (Nested):
subtract(37.3, 29.4)
| finqa620 |
what was the total of the reserve for losses?
Important information:
table_1: change in assumption ( a ) the .5% ( .5 % ) decrease in discount rate of estimatedincrease to 2012pensionexpense ( in millions ) is $ 23 ;
table_2: change in assumption ( a ) the .5% ( .5 % ) decrease in expected long-term return on assets of estimatedincrease to 2012pensionexpense ( in millions ) is $ 18 ;
text_16: the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .
Reasoning Steps:
Step: add1-1(47, 54) = 101
Program:
add(47, 54)
Program (Nested):
add(47, 54)
| 101.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the table below reflects the estimated effects on pension expense of certain changes in annual assumptions , using 2012 estimated expense as a baseline . change in assumption ( a ) estimated increase to 2012 pension expense ( in millions ) .
Table
change in assumption ( a ) | estimatedincrease to 2012pensionexpense ( in millions )
.5% ( .5 % ) decrease in discount rate | $ 23
.5% ( .5 % ) decrease in expected long-term return on assets | $ 18
.5% ( .5 % ) increase in compensation rate | $ 2
( a ) the impact is the effect of changing the specified assumption while holding all other assumptions constant . our pension plan contribution requirements are not particularly sensitive to actuarial assumptions . investment performance has the most impact on contribution requirements and will drive the amount of permitted contributions in future years . also , current law , including the provisions of the pension protection act of 2006 , sets limits as to both minimum and maximum contributions to the plan . we do not expect to be required by law to make any contributions to the plan during 2012 . we maintain other defined benefit plans that have a less significant effect on financial results , including various nonqualified supplemental retirement plans for certain employees . recourse and repurchase obligations as discussed in note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report , pnc has sold commercial mortgage and residential mortgage loans directly or indirectly in securitizations and whole-loan sale transactions with continuing involvement . one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets in these transactions . commercial mortgage loan recourse obligations we originate , close , and service certain multi-family commercial mortgage loans which are sold to fnma under fnma 2019s delegated underwriting and servicing ( dus ) program . we participated in a similar program with the fhlmc . under these programs , we generally assume up to a one-third pari passu risk of loss on unpaid principal balances through a loss share arrangement . at december 31 , 2011 and december 31 , 2010 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 13.0 billion and $ 13.2 billion , respectively . the potential maximum exposure under the loss share arrangements was $ 4.0 billion at both december 31 , 2011 and december 31 , 2010 . we maintain a reserve for estimated losses based on our exposure . the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet . if payment is required under these programs , we would not have a contractual interest in the collateral underlying the mortgage loans on which losses occurred , although the value of the collateral is taken into account in determining our share of such losses . our exposure and activity associated with these recourse obligations are reported in the corporate & institutional banking segment . residential mortgage loan and home equity repurchase obligations while residential mortgage loans are sold on a non-recourse basis , we assume certain loan repurchase obligations associated with mortgage loans we have sold to investors . these loan repurchase obligations primarily relate to situations where pnc is alleged to have breached certain origination covenants and representations and warranties made to purchasers of the loans in the respective purchase and sale agreements . residential mortgage loans covered by these loan repurchase obligations include first and second-lien mortgage loans we have sold through agency securitizations , non-agency securitizations , and whole-loan sale transactions . as discussed in note 3 in the notes to consolidated financial statements in item 8 of this report , agency securitizations consist of mortgage loans sale transactions with fnma , fhlmc , and the government national mortgage association ( gnma ) program , while non-agency securitizations and whole-loan sale transactions consist of mortgage loans sale transactions with private investors . our historical exposure and activity associated with agency securitization repurchase obligations has primarily been related to transactions with fnma and fhlmc , as indemnification and repurchase losses associated with federal housing agency ( fha ) and department of veterans affairs ( va ) -insured and uninsured loans pooled in gnma securitizations historically have been minimal . repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment . pnc 2019s repurchase obligations also include certain brokered home equity loans/lines that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition . pnc is no longer engaged in the brokered home equity lending business , and our exposure under these loan repurchase obligations is limited to repurchases of the whole-loans sold in these transactions . repurchase activity associated with brokered home equity lines/loans are reported in the non-strategic assets portfolio segment . loan covenants and representations and warranties are established through loan sale agreements with various investors to provide assurance that pnc has sold loans to the pnc financial services group , inc . 2013 form 10-k 69 .
Question:
what was the total of the reserve for losses?
Important information:
table_1: change in assumption ( a ) the .5% ( .5 % ) decrease in discount rate of estimatedincrease to 2012pensionexpense ( in millions ) is $ 23 ;
table_2: change in assumption ( a ) the .5% ( .5 % ) decrease in expected long-term return on assets of estimatedincrease to 2012pensionexpense ( in millions ) is $ 18 ;
text_16: the reserve for losses under these programs totaled $ 47 million and $ 54 million as of december 31 , 2011 and december 31 , 2010 , respectively , and is included in other liabilities on our consolidated balance sheet .
Reasoning Steps:
Step: add1-1(47, 54) = 101
Program:
add(47, 54)
Program (Nested):
add(47, 54)
| finqa621 |
what is the percentage change in weighted average discount rate for postretirement plans from 2017 to 2018?
Important information:
text_30: weighted-average discount rate assumptions for pension and postretirement plan obligations at december 31 , 2018 and 2017 are as follows: .
table_2: the postretirement plans of 2018 is 3.97% ( 3.97 % ) ; the postretirement plans of 2017 is 3.79% ( 3.79 % ) ;
text_32: the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $ 14 million , coupled with lower return on assets of $ 16 million , higher interest and service cost of $ 12 million and $ 4 million respectively , partially offset by other movements of $ 1 million .
Reasoning Steps:
Step: minus2-1(3.97, 3.79) = 0.18
Step: divide2-2(#0, 3.79) = 4.7%
Program:
subtract(3.97, 3.79), divide(#0, 3.79)
Program (Nested):
divide(subtract(3.97, 3.79), 3.79)
| 0.04749 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
inventory on hand , as well as our future purchase commitments with our suppliers , considering multiple factors , including demand forecasts , product life cycle , current sales levels , pricing strategy and cost trends . if our review indicates that inventories of raw materials , components or finished products have become obsolete or are in excess of anticipated demand or that inventory cost exceeds net realizable value , we may be required to make adjustments that will impact the results of operations . goodwill and non-amortizable intangible assets valuation - we test goodwill and non-amortizable intangible assets for impairment annually or more frequently if events occur that would warrant such review . while the company has the option to perform a qualitative assessment for both goodwill and non-amortizable intangible assets to determine if it is more likely than not that an impairment exists , the company elects to perform the quantitative assessment for our annual impairment analysis . the impairment analysis involves comparing the fair value of each reporting unit or non-amortizable intangible asset to the carrying value . if the carrying value exceeds the fair value , goodwill or a non-amortizable intangible asset is considered impaired . to determine the fair value of goodwill , we primarily use a discounted cash flow model , supported by the market approach using earnings multiples of comparable global and local companies within the tobacco industry . at december 31 , 2018 , the carrying value of our goodwill was $ 7.2 billion , which is related to ten reporting units , each of which consists of a group of markets with similar economic characteristics . the estimated fair value of each of our ten reporting units exceeded the carrying value as of december 31 , 2018 . to determine the fair value of non-amortizable intangible assets , we primarily use a discounted cash flow model applying the relief-from-royalty method . we concluded that the fair value of our non- amortizable intangible assets exceeded the carrying value . these discounted cash flow models include management assumptions relevant for forecasting operating cash flows , which are subject to changes in business conditions , such as volumes and prices , costs to produce , discount rates and estimated capital needs . management considers historical experience and all available information at the time the fair values are estimated , and we believe these assumptions are consistent with the assumptions a hypothetical marketplace participant would use . since the march 28 , 2008 , spin-off from altria group , inc. , we have not recorded a charge to earnings for an impairment of goodwill or non-amortizable intangible assets . marketing costs - we incur certain costs to support our products through programs that include advertising , marketing , consumer engagement and trade promotions . the costs of our advertising and marketing programs are expensed in accordance with u.s . gaap . recognition of the cost related to our consumer engagement and trade promotion programs contain uncertainties due to the judgment required in estimating the potential performance and compliance for each program . for volume-based incentives provided to customers , management continually assesses and estimates , by customer , the likelihood of the customer's achieving the specified targets , and records the reduction of revenue as the sales are made . for other trade promotions , management relies on estimated utilization rates that have been developed from historical experience . changes in the assumptions used in estimating the cost of any individual marketing program would not result in a material change in our financial position , results of operations or operating cash flows . employee benefit plans - as discussed in item 8 , note 13 . benefit plans to our consolidated financial statements , we provide a range of benefits to our employees and retired employees , including pensions , postretirement health care and postemployment benefits ( primarily severance ) . we record annual amounts relating to these plans based on calculations specified by u.s . gaap . these calculations include various actuarial assumptions , such as discount rates , assumed rates of return on plan assets , compensation increases , mortality , turnover rates and health care cost trend rates . we review actuarial assumptions on an annual basis and make modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so . as permitted by u.s . gaap , any effect of the modifications is generally amortized over future periods . we believe that the assumptions utilized in calculating our obligations under these plans are reasonable based upon our historical experience and advice from our actuaries . weighted-average discount rate assumptions for pension and postretirement plan obligations at december 31 , 2018 and 2017 are as follows: .
Table
| 2018 | 2017
pension plans | 1.61% ( 1.61 % ) | 1.51% ( 1.51 % )
postretirement plans | 3.97% ( 3.97 % ) | 3.79% ( 3.79 % )
we anticipate that assumption changes will increase 2019 pre-tax pension and postretirement expense to approximately $ 205 million as compared with approximately $ 160 million in 2018 , excluding amounts related to employee severance and early retirement programs . the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $ 14 million , coupled with lower return on assets of $ 16 million , higher interest and service cost of $ 12 million and $ 4 million respectively , partially offset by other movements of $ 1 million . weighted-average expected rate of return and discount rate assumptions have a significant effect on the amount of expense reported for the employee benefit plans . a fifty-basis-point decrease in our discount rate would increase our 2019 pension and postretirement expense by approximately $ 50 million , and a fifty-basis-point increase in our discount rate would decrease our 2019 pension and postretirement .
Question:
what is the percentage change in weighted average discount rate for postretirement plans from 2017 to 2018?
Important information:
text_30: weighted-average discount rate assumptions for pension and postretirement plan obligations at december 31 , 2018 and 2017 are as follows: .
table_2: the postretirement plans of 2018 is 3.97% ( 3.97 % ) ; the postretirement plans of 2017 is 3.79% ( 3.79 % ) ;
text_32: the anticipated increase is primarily due to higher amortization out of other comprehensive earnings for unrecognized actuarial gains/ losses of $ 14 million , coupled with lower return on assets of $ 16 million , higher interest and service cost of $ 12 million and $ 4 million respectively , partially offset by other movements of $ 1 million .
Reasoning Steps:
Step: minus2-1(3.97, 3.79) = 0.18
Step: divide2-2(#0, 3.79) = 4.7%
Program:
subtract(3.97, 3.79), divide(#0, 3.79)
Program (Nested):
divide(subtract(3.97, 3.79), 3.79)
| finqa622 |
what is the percentage decrease in total liability from dec 31 2007 to dec 31 2008?
Important information:
table_1: the liability at december 31 2006 of 2007 program is $ 2014 ; the liability at december 31 2006 of 2003 program is $ 12.6 ; the liability at december 31 2006 of 2001 program is $ 19.2 ; the liability at december 31 2006 of total is $ 31.8 ;
table_4: the liability at december 31 2007 of 2007 program is $ 11.9 ; the liability at december 31 2007 of 2003 program is $ 9.0 ; the liability at december 31 2007 of 2001 program is $ 8.7 ; the liability at december 31 2007 of total is $ 29.6 ;
table_7: the liability at december 31 2008 of 2007 program is $ 1.2 ; the liability at december 31 2008 of 2003 program is $ 5.7 ; the liability at december 31 2008 of 2001 program is $ 5.9 ; the liability at december 31 2008 of total is $ 12.8 ;
Reasoning Steps:
Step: minus2-1(29.6, 12.8) = 16.8
Step: divide2-2(#0, 29.6) = 0.5675
Step: multiply2-3(#1, const_100) = 56.75
Program:
subtract(29.6, 12.8), divide(#0, 29.6), multiply(#1, const_100)
Program (Nested):
multiply(divide(subtract(29.6, 12.8), 29.6), const_100)
| 56.75676 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
notes to consolidated financial statements 2014 ( continued ) ( amounts in millions , except per share amounts ) a summary of the remaining liability for the 2007 , 2003 and 2001 restructuring programs is as follows : program program program total .
Table
| 2007 program | 2003 program | 2001 program | total
liability at december 31 2006 | $ 2014 | $ 12.6 | $ 19.2 | $ 31.8
net charges ( reversals ) and adjustments | 19.1 | -0.5 ( 0.5 ) | -5.2 ( 5.2 ) | 13.4
payments and other1 | -7.2 ( 7.2 ) | -3.1 ( 3.1 ) | -5.3 ( 5.3 ) | -15.6 ( 15.6 )
liability at december 31 2007 | $ 11.9 | $ 9.0 | $ 8.7 | $ 29.6
net charges and adjustments | 4.3 | 0.8 | 0.7 | 5.8
payments and other1 | -15.0 ( 15.0 ) | -4.1 ( 4.1 ) | -3.5 ( 3.5 ) | -22.6 ( 22.6 )
liability at december 31 2008 | $ 1.2 | $ 5.7 | $ 5.9 | $ 12.8
1 includes amounts representing adjustments to the liability for changes in foreign currency exchange rates . other reorganization-related charges other reorganization-related charges relate to our realignment of our media businesses into a newly created management entity called mediabrands and the 2006 merger of draft worldwide and foote , cone and belding worldwide to create draftfcb . charges related to severance and terminations costs and lease termination and other exit costs . we expect charges associated with mediabrands to be completed during the first half of 2009 . charges related to the creation of draftfcb in 2006 are complete . the charges were separated from the rest of our operating expenses within the consolidated statements of operations because they did not result from charges that occurred in the normal course of business. .
Question:
what is the percentage decrease in total liability from dec 31 2007 to dec 31 2008?
Important information:
table_1: the liability at december 31 2006 of 2007 program is $ 2014 ; the liability at december 31 2006 of 2003 program is $ 12.6 ; the liability at december 31 2006 of 2001 program is $ 19.2 ; the liability at december 31 2006 of total is $ 31.8 ;
table_4: the liability at december 31 2007 of 2007 program is $ 11.9 ; the liability at december 31 2007 of 2003 program is $ 9.0 ; the liability at december 31 2007 of 2001 program is $ 8.7 ; the liability at december 31 2007 of total is $ 29.6 ;
table_7: the liability at december 31 2008 of 2007 program is $ 1.2 ; the liability at december 31 2008 of 2003 program is $ 5.7 ; the liability at december 31 2008 of 2001 program is $ 5.9 ; the liability at december 31 2008 of total is $ 12.8 ;
Reasoning Steps:
Step: minus2-1(29.6, 12.8) = 16.8
Step: divide2-2(#0, 29.6) = 0.5675
Step: multiply2-3(#1, const_100) = 56.75
Program:
subtract(29.6, 12.8), divide(#0, 29.6), multiply(#1, const_100)
Program (Nested):
multiply(divide(subtract(29.6, 12.8), 29.6), const_100)
| finqa623 |
compared to the s&p 500 ,what was the difference in percentage growth from the s&p 500 retail index .
Important information:
table_1: the tractor supply company of 12/29/2012 is $ 100.00 ; the tractor supply company of 12/28/2013 is $ 174.14 ; the tractor supply company of 12/27/2014 is $ 181.29 ; the tractor supply company of 12/26/2015 is $ 201.04 ; the tractor supply company of 12/31/2016 is $ 179.94 ; the tractor supply company of 12/30/2017 is $ 180.52 ;
table_2: the s&p 500 of 12/29/2012 is $ 100.00 ; the s&p 500 of 12/28/2013 is $ 134.11 ; the s&p 500 of 12/27/2014 is $ 155.24 ; the s&p 500 of 12/26/2015 is $ 156.43 ; the s&p 500 of 12/31/2016 is $ 173.74 ; the s&p 500 of 12/30/2017 is $ 211.67 ;
table_3: the s&p retail index of 12/29/2012 is $ 100.00 ; the s&p retail index of 12/28/2013 is $ 147.73 ; the s&p retail index of 12/27/2014 is $ 164.24 ; the s&p retail index of 12/26/2015 is $ 207.15 ; the s&p retail index of 12/31/2016 is $ 219.43 ; the s&p retail index of 12/30/2017 is $ 286.13 ;
Reasoning Steps:
Step: minus1-1(211.67, 100) = 111.67
Step: divide1-2(#0, 100) = 112.7%
Step: minus1-3(286.13, 100) = 186.13
Step: divide1-4(#2, 100) = 186.1%
Step: minus1-5(#3, #1) = 73.4%
Program:
subtract(211.67, 100), divide(#0, 100), subtract(286.13, 100), divide(#2, 100), subtract(#3, #1)
Program (Nested):
subtract(divide(subtract(286.13, 100), 100), divide(subtract(211.67, 100), 100))
| 0.7446 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
stock performance graph this performance graph shall not be deemed 201cfiled 201d for purposes of section 18 of the securities exchange act of 1934 , as amended ( the 201cexchange act 201d ) or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of tractor supply company under the securities act of 1933 , as amended , or the exchange act . the following graph compares the cumulative total stockholder return on our common stock from december 29 , 2012 to december 30 , 2017 ( the company 2019s fiscal year-end ) , with the cumulative total returns of the s&p 500 index and the s&p retail index over the same period . the comparison assumes that $ 100 was invested on december 29 , 2012 , in our common stock and in each of the foregoing indices and in each case assumes reinvestment of dividends . the historical stock price performance shown on this graph is not indicative of future performance. .
Table
| 12/29/2012 | 12/28/2013 | 12/27/2014 | 12/26/2015 | 12/31/2016 | 12/30/2017
tractor supply company | $ 100.00 | $ 174.14 | $ 181.29 | $ 201.04 | $ 179.94 | $ 180.52
s&p 500 | $ 100.00 | $ 134.11 | $ 155.24 | $ 156.43 | $ 173.74 | $ 211.67
s&p retail index | $ 100.00 | $ 147.73 | $ 164.24 | $ 207.15 | $ 219.43 | $ 286.13
.
Question:
compared to the s&p 500 ,what was the difference in percentage growth from the s&p 500 retail index .
Important information:
table_1: the tractor supply company of 12/29/2012 is $ 100.00 ; the tractor supply company of 12/28/2013 is $ 174.14 ; the tractor supply company of 12/27/2014 is $ 181.29 ; the tractor supply company of 12/26/2015 is $ 201.04 ; the tractor supply company of 12/31/2016 is $ 179.94 ; the tractor supply company of 12/30/2017 is $ 180.52 ;
table_2: the s&p 500 of 12/29/2012 is $ 100.00 ; the s&p 500 of 12/28/2013 is $ 134.11 ; the s&p 500 of 12/27/2014 is $ 155.24 ; the s&p 500 of 12/26/2015 is $ 156.43 ; the s&p 500 of 12/31/2016 is $ 173.74 ; the s&p 500 of 12/30/2017 is $ 211.67 ;
table_3: the s&p retail index of 12/29/2012 is $ 100.00 ; the s&p retail index of 12/28/2013 is $ 147.73 ; the s&p retail index of 12/27/2014 is $ 164.24 ; the s&p retail index of 12/26/2015 is $ 207.15 ; the s&p retail index of 12/31/2016 is $ 219.43 ; the s&p retail index of 12/30/2017 is $ 286.13 ;
Reasoning Steps:
Step: minus1-1(211.67, 100) = 111.67
Step: divide1-2(#0, 100) = 112.7%
Step: minus1-3(286.13, 100) = 186.13
Step: divide1-4(#2, 100) = 186.1%
Step: minus1-5(#3, #1) = 73.4%
Program:
subtract(211.67, 100), divide(#0, 100), subtract(286.13, 100), divide(#2, 100), subtract(#3, #1)
Program (Nested):
subtract(divide(subtract(286.13, 100), 100), divide(subtract(211.67, 100), 100))
| finqa624 |
considering the years 2014-2016 , what was the average cash paid for interest?
Important information:
text_1: debt the tables below summarize our outstanding debt at 30 september 2016 and 2015 : total debt .
table_4: 30 september the total debt of 2016 is $ 6225.2 ; the total debt of 2015 is $ 5879.0 ;
text_3: cash paid for interest , net of amounts capitalized , was $ 121.1 in 2016 , $ 97.5 in 2015 , and $ 132.4 in 2014. .
Reasoning Steps:
Step: add1-1(121.1, 97.5) = 218.6
Step: add1-2(132.4, #0) = 351
Step: divide1-3(#1, const_3) = 117
Program:
add(121.1, 97.5), add(132.4, #0), divide(#1, const_3)
Program (Nested):
divide(add(132.4, add(121.1, 97.5)), const_3)
| 117.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
15 . debt the tables below summarize our outstanding debt at 30 september 2016 and 2015 : total debt .
Table
30 september | 2016 | 2015
short-term borrowings | $ 935.8 | $ 1494.3
current portion of long-term debt | 371.3 | 435.6
long-term debt | 4918.1 | 3949.1
total debt | $ 6225.2 | $ 5879.0
short-term borrowings | |
30 september | 2016 | 2015
bank obligations | $ 133.1 | $ 234.3
commercial paper | 802.7 | 1260.0
total short-term borrowings | $ 935.8 | $ 1494.3
the weighted average interest rate of short-term borrowings outstanding at 30 september 2016 and 2015 was 1.1% ( 1.1 % ) and .8% ( .8 % ) , respectively . cash paid for interest , net of amounts capitalized , was $ 121.1 in 2016 , $ 97.5 in 2015 , and $ 132.4 in 2014. .
Question:
considering the years 2014-2016 , what was the average cash paid for interest?
Important information:
text_1: debt the tables below summarize our outstanding debt at 30 september 2016 and 2015 : total debt .
table_4: 30 september the total debt of 2016 is $ 6225.2 ; the total debt of 2015 is $ 5879.0 ;
text_3: cash paid for interest , net of amounts capitalized , was $ 121.1 in 2016 , $ 97.5 in 2015 , and $ 132.4 in 2014. .
Reasoning Steps:
Step: add1-1(121.1, 97.5) = 218.6
Step: add1-2(132.4, #0) = 351
Step: divide1-3(#1, const_3) = 117
Program:
add(121.1, 97.5), add(132.4, #0), divide(#1, const_3)
Program (Nested):
divide(add(132.4, add(121.1, 97.5)), const_3)
| finqa625 |
as of december 2007 , what percentage of the long-term debt is current?
Important information:
text_0: page 31 of 94 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2007 , are summarized in the following table: .
table_1: ( $ in millions ) the long-term debt of payments due by period ( a ) total is $ 2302.6 ; the long-term debt of payments due by period ( a ) less than 1 year is $ 126.1 ; the long-term debt of payments due by period ( a ) 1-3 years is $ 547.6 ; the long-term debt of payments due by period ( a ) 3-5 years is $ 1174.9 ; the long-term debt of payments due by period ( a ) more than 5 years is $ 454.0 ;
table_8: ( $ in millions ) the total payments on contractual obligations of payments due by period ( a ) total is $ 9517.7 ; the total payments on contractual obligations of payments due by period ( a ) less than 1 year is $ 2918.1 ; the total payments on contractual obligations of payments due by period ( a ) 1-3 years is $ 3985.2 ; the total payments on contractual obligations of payments due by period ( a ) 3-5 years is $ 1947.0 ; the total payments on contractual obligations of payments due by period ( a ) more than 5 years is $ 667.4 ;
Reasoning Steps:
Step: divide2-1(126.1, 2302.6) = 5.5%
Program:
divide(126.1, 2302.6)
Program (Nested):
divide(126.1, 2302.6)
| 0.05476 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
page 31 of 94 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2007 , are summarized in the following table: .
Table
( $ in millions ) | payments due by period ( a ) total | payments due by period ( a ) less than 1 year | payments due by period ( a ) 1-3 years | payments due by period ( a ) 3-5 years | payments due by period ( a ) more than 5 years
long-term debt | $ 2302.6 | $ 126.1 | $ 547.6 | $ 1174.9 | $ 454.0
capital lease obligations | 4.4 | 1.0 | 0.8 | 0.5 | 2.1
interest payments on long-term debt ( b ) | 698.6 | 142.9 | 246.3 | 152.5 | 156.9
operating leases | 218.5 | 49.9 | 71.7 | 42.5 | 54.4
purchase obligations ( c ) | 6092.6 | 2397.2 | 3118.8 | 576.6 | 2013
common stock repurchase agreements | 131.0 | 131.0 | 2013 | 2013 | 2013
legal settlement | 70.0 | 70.0 | 2013 | 2013 | 2013
total payments on contractual obligations | $ 9517.7 | $ 2918.1 | $ 3985.2 | $ 1947.0 | $ 667.4
total payments on contractual obligations $ 9517.7 $ 2918.1 $ 3985.2 $ 1947.0 $ 667.4 ( a ) amounts reported in local currencies have been translated at the year-end exchange rates . ( b ) for variable rate facilities , amounts are based on interest rates in effect at year end and do not contemplate the effects of hedging instruments . ( c ) the company 2019s purchase obligations include contracted amounts for aluminum , steel , plastic resin and other direct materials . also included are commitments for purchases of natural gas and electricity , aerospace and technologies contracts and other less significant items . in cases where variable prices and/or usage are involved , management 2019s best estimates have been used . depending on the circumstances , early termination of the contracts may not result in penalties and , therefore , actual payments could vary significantly . contributions to the company 2019s defined benefit pension plans , not including the unfunded german plans , are expected to be $ 49 million in 2008 . this estimate may change based on plan asset performance . benefit payments related to these plans are expected to be $ 66 million , $ 70 million , $ 74 million , $ 77 million and $ 82 million for the years ending december 31 , 2008 through 2012 , respectively , and a total of $ 473 million for the years 2013 through 2017 . payments to participants in the unfunded german plans are expected to be approximately $ 26 million in each of the years 2008 through 2012 and a total of $ 136 million for the years 2013 through 2017 . in accordance with united kingdom pension regulations , ball has provided an a38 million guarantee to the plan for its defined benefit plan in the united kingdom . if the company 2019s credit rating falls below specified levels , ball will be required to either : ( 1 ) contribute an additional a38 million to the plan ; ( 2 ) provide a letter of credit to the plan in that amount or ( 3 ) if imposed by the appropriate regulatory agency , provide a lien on company assets in that amount for the benefit of the plan . the guarantee can be removed upon approval by both ball and the pension plan trustees . our share repurchase program in 2007 was $ 211.3 million , net of issuances , compared to $ 45.7 million net repurchases in 2006 and $ 358.1 million in 2005 . the net repurchases included the $ 51.9 million settlement on january 5 , 2007 , of a forward contract entered into in december 2006 for the repurchase of 1200000 shares . however , the 2007 net repurchases did not include a forward contract entered into in december 2007 for the repurchase of 675000 shares . the contract was settled on january 7 , 2008 , for $ 31 million in cash . on december 12 , 2007 , in a privately negotiated transaction , ball entered into an accelerated share repurchase agreement to buy $ 100 million of its common shares using cash on hand and available borrowings . the company advanced the $ 100 million on january 7 , 2008 , and received approximately 2 million shares , which represented 90 percent of the total shares as calculated using the previous day 2019s closing price . the exact number of shares to be repurchased under the agreement , which will be determined on the settlement date ( no later than june 5 , 2008 ) , is subject to an adjustment based on a weighted average price calculation for the period between the initial purchase date and the settlement date . the company has the option to settle the contract in either cash or shares . including the settlements of the forward share purchase contract and the accelerated share repurchase agreement , we expect to repurchase approximately $ 300 million of our common shares , net of issuances , in 2008 . annual cash dividends paid on common stock were 40 cents per share in 2007 , 2006 and 2005 . total dividends paid were $ 40.6 million in 2007 , $ 41 million in 2006 and $ 42.5 million in 2005. .
Question:
as of december 2007 , what percentage of the long-term debt is current?
Important information:
text_0: page 31 of 94 other liquidity items cash payments required for long-term debt maturities , rental payments under noncancellable operating leases , purchase obligations and other commitments in effect at december 31 , 2007 , are summarized in the following table: .
table_1: ( $ in millions ) the long-term debt of payments due by period ( a ) total is $ 2302.6 ; the long-term debt of payments due by period ( a ) less than 1 year is $ 126.1 ; the long-term debt of payments due by period ( a ) 1-3 years is $ 547.6 ; the long-term debt of payments due by period ( a ) 3-5 years is $ 1174.9 ; the long-term debt of payments due by period ( a ) more than 5 years is $ 454.0 ;
table_8: ( $ in millions ) the total payments on contractual obligations of payments due by period ( a ) total is $ 9517.7 ; the total payments on contractual obligations of payments due by period ( a ) less than 1 year is $ 2918.1 ; the total payments on contractual obligations of payments due by period ( a ) 1-3 years is $ 3985.2 ; the total payments on contractual obligations of payments due by period ( a ) 3-5 years is $ 1947.0 ; the total payments on contractual obligations of payments due by period ( a ) more than 5 years is $ 667.4 ;
Reasoning Steps:
Step: divide2-1(126.1, 2302.6) = 5.5%
Program:
divide(126.1, 2302.6)
Program (Nested):
divide(126.1, 2302.6)
| finqa626 |
if the fuel surcharge grows by the same rate as in 2014what would expected 2015 revenues be in billions?
Important information:
table_3: millions the total of 2014 is $ 23988 ; the total of 2013 is $ 21963 ; the total of 2012 is $ 20926 ; the total of % ( % ) change 2014 v 2013 is 9% ( 9 % ) ; the total of % ( % ) change 2013 v 2012 is 5% ( 5 % ) ;
text_15: our fuel surcharge programs generated freight revenues of $ 2.8 billion , $ 2.6 billion , and $ 2.6 billion in 2014 , 2013 , and 2012 , respectively .
text_16: fuel surcharge in 2014 increased 6% ( 6 % ) driven by our 7% ( 7 % ) carloadings increase .
Reasoning Steps:
Step: divide1-1(2.8, 2.6) = 108%
Step: multiply1-2(#0, 2.8) = 3.0
Program:
divide(2.8, 2.6), multiply(#0, 2.8)
Program (Nested):
multiply(divide(2.8, 2.6), 2.8)
| 3.01538 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
results of operations operating revenues millions 2014 2013 2012 % ( % ) change 2014 v 2013 % ( % ) change 2013 v 2012 .
Table
millions | 2014 | 2013 | 2012 | % ( % ) change 2014 v 2013 | % ( % ) change 2013 v 2012
freight revenues | $ 22560 | $ 20684 | $ 19686 | 9% ( 9 % ) | 5% ( 5 % )
other revenues | 1428 | 1279 | 1240 | 12% ( 12 % ) | 3% ( 3 % )
total | $ 23988 | $ 21963 | $ 20926 | 9% ( 9 % ) | 5% ( 5 % )
we generate freight revenues by transporting freight or other materials from our six commodity groups . freight revenues vary with volume ( carloads ) and average revenue per car ( arc ) . changes in price , traffic mix and fuel surcharges drive arc . we provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations , which we record as reductions to freight revenues based on the actual or projected future shipments . we recognize freight revenues as shipments move from origin to destination . we allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them . other revenues include revenues earned by our subsidiaries , revenues from our commuter rail operations , and accessorial revenues , which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage . we recognize other revenues as we perform services or meet contractual obligations . freight revenues from all six commodity groups increased during 2014 compared to 2013 driven by 7% ( 7 % ) volume growth and core pricing gains of 2.5% ( 2.5 % ) . volume growth from grain , frac sand , rock , and intermodal ( domestic and international ) shipments offset declines in crude oil . freight revenues from five of our six commodity groups increased during 2013 compared to 2012 . revenue from agricultural products was down slightly compared to 2012 . arc increased 5% ( 5 % ) , driven by core pricing gains , shifts in business mix and an automotive logistics management arrangement . volume essentially was flat year over year as growth in automotive , frac sand , crude oil and domestic intermodal offset declines in coal , international intermodal and grain shipments . our fuel surcharge programs generated freight revenues of $ 2.8 billion , $ 2.6 billion , and $ 2.6 billion in 2014 , 2013 , and 2012 , respectively . fuel surcharge in 2014 increased 6% ( 6 % ) driven by our 7% ( 7 % ) carloadings increase . fuel surcharge in 2013 essentially was flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs ( surcharges trail fluctuations in fuel price by approximately two months ) . in 2014 , other revenue increased from 2013 due to higher revenues at our subsidiaries , primarily those that broker intermodal and automotive services , accessorial revenue driven by increased volume and per diem revenue for container usage ( previously included in automotive freight revenue ) . in 2013 , other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services. .
Question:
if the fuel surcharge grows by the same rate as in 2014what would expected 2015 revenues be in billions?
Important information:
table_3: millions the total of 2014 is $ 23988 ; the total of 2013 is $ 21963 ; the total of 2012 is $ 20926 ; the total of % ( % ) change 2014 v 2013 is 9% ( 9 % ) ; the total of % ( % ) change 2013 v 2012 is 5% ( 5 % ) ;
text_15: our fuel surcharge programs generated freight revenues of $ 2.8 billion , $ 2.6 billion , and $ 2.6 billion in 2014 , 2013 , and 2012 , respectively .
text_16: fuel surcharge in 2014 increased 6% ( 6 % ) driven by our 7% ( 7 % ) carloadings increase .
Reasoning Steps:
Step: divide1-1(2.8, 2.6) = 108%
Step: multiply1-2(#0, 2.8) = 3.0
Program:
divide(2.8, 2.6), multiply(#0, 2.8)
Program (Nested):
multiply(divide(2.8, 2.6), 2.8)
| finqa627 |
in 2009 what was the change in the allowance for doubtful accounts
Important information:
table_1: the balance at beginning of year of 2009 is $ 65.7 ; the balance at beginning of year of 2008 is $ 14.7 ; the balance at beginning of year of 2007 is $ 18.8 ;
table_3: the accounts written-off of 2009 is -37.8 ( 37.8 ) ; the accounts written-off of 2008 is -12.7 ( 12.7 ) ; the accounts written-off of 2007 is -7.8 ( 7.8 ) ;
table_5: the balance at end of year of 2009 is $ 55.2 ; the balance at end of year of 2008 is $ 65.7 ; the balance at end of year of 2007 is $ 14.7 ;
Reasoning Steps:
Step: add1-1(27.3, -37.8) = -10.5
Program:
add(27.3, -37.8)
Program (Nested):
add(27.3, -37.8)
| -10.5 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
in our primary disbursement accounts which were reclassified as accounts payable and other accrued liabilities on our consolidated balance sheet . concentration of credit risk financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents , trade accounts receivable and derivative instruments . we place our cash and cash equivalents with high quality financial institutions . such balances may be in excess of fdic insured limits . in order to manage the related 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 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 . no customer exceeded 5% ( 5 % ) of our outstanding accounts receivable balance at december 31 , 2009 or 2008 . accounts receivable , net of allowance for doubtful accounts 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 , 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 ninety days old . past due receivable balances are written-off when our collection efforts have been unsuccess- ful in collecting amounts due . the following table reflects the activity in our allowance for doubtful accounts for the years ended december 31 , 2009 , 2008 and 2007: .
Table
| 2009 | 2008 | 2007
balance at beginning of year | $ 65.7 | $ 14.7 | $ 18.8
additions charged to expense | 27.3 | 36.5 | 3.9
accounts written-off | -37.8 ( 37.8 ) | -12.7 ( 12.7 ) | -7.8 ( 7.8 )
acquisitions | - | 27.2 | -0.2 ( 0.2 )
balance at end of year | $ 55.2 | $ 65.7 | $ 14.7
subsequent to our acquisition of allied , we recorded a provision for doubtful accounts of $ 14.2 million to adjust the allowance acquired from allied to conform to republic 2019s accounting policies . we also recorded $ 5.4 million to provide for specific bankruptcy exposures in 2008 . in 2007 , we recorded a $ 4.3 million reduction in our allowance for doubtful accounts as a result of refining our estimate of the allowance based on our historical collection experience . restricted cash as of december 31 , 2009 , we had $ 236.6 million of restricted cash , of which $ 93.1 million was proceeds from the issuance of tax-exempt bonds and other tax-exempt financings and will be used to fund capital republic services , inc . and subsidiaries notes to consolidated financial statements , continued .
Question:
in 2009 what was the change in the allowance for doubtful accounts
Important information:
table_1: the balance at beginning of year of 2009 is $ 65.7 ; the balance at beginning of year of 2008 is $ 14.7 ; the balance at beginning of year of 2007 is $ 18.8 ;
table_3: the accounts written-off of 2009 is -37.8 ( 37.8 ) ; the accounts written-off of 2008 is -12.7 ( 12.7 ) ; the accounts written-off of 2007 is -7.8 ( 7.8 ) ;
table_5: the balance at end of year of 2009 is $ 55.2 ; the balance at end of year of 2008 is $ 65.7 ; the balance at end of year of 2007 is $ 14.7 ;
Reasoning Steps:
Step: add1-1(27.3, -37.8) = -10.5
Program:
add(27.3, -37.8)
Program (Nested):
add(27.3, -37.8)
| finqa628 |
what is the average , in millions , home equity line of credit with balloon payments with draw periods from 2012 to 2016?
Important information:
text_3: home equity lines of credit - draw period end dates in millions interest only product principal and interest product .
table_1: in millions the 2012 of interest only product is $ 904 ; the 2012 of principal and interest product is $ 266 ;
text_4: ( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively .
Reasoning Steps:
Step: add1-1(306, 44) = 350
Step: add1-2(#0, 60) = 410
Step: add1-3(#1, 100) = 510
Step: add1-4(#2, 246) = 750
Step: divide1-5(#3, const_5) = 150
Program:
add(306, 44), add(#0, 60), add(#1, 100), add(#2, 246), divide(#3, const_5)
Program (Nested):
divide(add(add(add(add(306, 44), 60), 100), 246), const_5)
| 151.2 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
generally , our variable-rate home equity lines of credit have either a seven or ten year draw period , followed by a 20 year amortization term . during the draw period , we have home equity lines of credit where borrowers pay interest only and home equity lines of credit where borrowers pay principal and interest . based upon outstanding balances at december 31 , 2011 , the following table presents the periods when home equity lines of credit draw periods are scheduled to end . home equity lines of credit - draw period end dates in millions interest only product principal and interest product .
Table
in millions | interest only product | principal and interest product
2012 | $ 904 | $ 266
2013 | 1211 | 331
2014 | 2043 | 598
2015 | 1988 | 820
2016 and thereafter | 6961 | 5601
total ( a ) | $ 13107 | $ 7616
( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively . we view home equity lines of credit where borrowers are paying principal and interest under the draw period as less risky than those where the borrowers are paying interest only , as these borrowers have a demonstrated ability to make some level of principal and interest payments . based upon outstanding balances , and excluding purchased impaired loans , at december 31 , 2011 , for home equity lines of credit for which the borrower can no longer draw ( e.g. , draw period has ended or borrowing privileges have been terminated ) , approximately 4.32% ( 4.32 % ) were 30-89 days past due and approximately 5.57% ( 5.57 % ) were greater than or equal to 90 days past due . generally , when a borrower becomes 60 days past due , we terminate borrowing privileges , and those privileges are not subsequently reinstated . at that point , we continue our collection/recovery processes , which may include a loss mitigation loan modification resulting in a loan that is classified as a tdr . see note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report for additional information . loan modifications and troubled debt restructurings consumer loan modifications we modify loans under government and pnc-developed programs based upon our commitment to help eligible homeowners and borrowers avoid foreclosure , where appropriate . initially , a borrower is evaluated for a modification under a government program . if a borrower does not qualify under a government program , the borrower is then evaluated under a pnc program . our programs utilize both temporary and permanent modifications and typically reduce the interest rate , extend the term and/or defer principal . temporary and permanent modifications under programs involving a change to loan terms are generally classified as tdrs . further , certain payment plans and trial payment arrangements which do not include a contractual change to loan terms may be classified as tdrs . additional detail on tdrs is discussed below as well as in note 5 asset quality and allowances for loan and lease losses and unfunded loan commitments and letters of credit in the notes to consolidated financial statements in item 8 of this report . a temporary modification , with a term between three and 60 months , involves a change in original loan terms for a period of time and reverts to the original loan terms as of a specific date or the occurrence of an event , such as a failure to pay in accordance with the terms of the modification . typically , these modifications are for a period of up to 24 months after which the interest rate reverts to the original loan rate . a permanent modification , with a term greater than 60 months , is a modification in which the terms of the original loan are changed . permanent modifications primarily include the government-created home affordable modification program ( hamp ) or pnc-developed hamp-like modification programs . for consumer loan programs , such as residential mortgages and home equity loans and lines , we will enter into a temporary modification when the borrower has indicated a temporary hardship and a willingness to bring current the delinquent loan balance . examples of this situation often include delinquency due to illness or death in the family , or a loss of employment . permanent modifications are entered into when it is confirmed that the borrower does not possess the income necessary to continue making loan payments at the current amount , but our expectation is that payments at lower amounts can be made . residential mortgage and home equity loans and lines have been modified with changes in terms for up to 60 months , although the majority involve periods of three to 24 months . we also monitor the success rates and delinquency status of our loan modification programs to assess their effectiveness in serving our customers 2019 needs while mitigating credit losses . the following tables provide the number of accounts and unpaid principal balance of modified consumer real estate related loans as well as the number of accounts and unpaid principal balance of modified loans that were 60 days or more past due as of six months , nine months and twelve months after the modification date . 78 the pnc financial services group , inc . 2013 form 10-k .
Question:
what is the average , in millions , home equity line of credit with balloon payments with draw periods from 2012 to 2016?
Important information:
text_3: home equity lines of credit - draw period end dates in millions interest only product principal and interest product .
table_1: in millions the 2012 of interest only product is $ 904 ; the 2012 of principal and interest product is $ 266 ;
text_4: ( a ) includes approximately $ 306 million , $ 44 million , $ 60 million , $ 100 million , and $ 246 million of home equity lines of credit with balloon payments with draw periods scheduled to end in 2012 , 2013 , 2014 , 2015 , and 2016 and thereafter , respectively .
Reasoning Steps:
Step: add1-1(306, 44) = 350
Step: add1-2(#0, 60) = 410
Step: add1-3(#1, 100) = 510
Step: add1-4(#2, 246) = 750
Step: divide1-5(#3, const_5) = 150
Program:
add(306, 44), add(#0, 60), add(#1, 100), add(#2, 246), divide(#3, const_5)
Program (Nested):
divide(add(add(add(add(306, 44), 60), 100), 246), const_5)
| finqa629 |
2001 revenue from large utilities were how many times the revenues from the growth distribution segment?
Important information:
table_1: the contract generation of 2001 is $ 827 million ; the contract generation of 2000 is $ 767 million ; the contract generation of % ( % ) change is 8% ( 8 % ) ;
table_3: the large utilities of 2001 is $ 739 million ; the large utilities of 2000 is $ 538 million ; the large utilities of % ( % ) change is 37% ( 37 % ) ;
table_4: the growth distribution of 2001 is $ 296 million ; the growth distribution of 2000 is $ 131 million ; the growth distribution of % ( % ) change is 126% ( 126 % ) ;
Reasoning Steps:
Step: divide1-1(739, 296) = 2.5
Program:
divide(739, 296)
Program (Nested):
divide(739, 296)
| 2.49662 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
gross margin gross margin increased $ 307 million , or 15% ( 15 % ) , to $ 2.3 billion in 2001 from $ 2.0 billion in 2000 . gross margin as a percentage of revenues decreased to 25% ( 25 % ) in 2000 from 26% ( 26 % ) in 2001 . the increase in gross margin is due to acquisition of new businesses and new operations from greenfield projects offset by lower market prices in the united kingdom . the decrease in gross margin as a percentage of revenues is due to a decline in the competitive supply and contract generation gross margin percentages offset slightly by increased gross margin percentages from large utilities and growth distribution . excluding businesses acquired or that commenced commercial operations in 2001 or 2000 , gross margin decreased 2% ( 2 % ) to $ 1.8 billion in 2001. .
Table
| 2001 | 2000 | % ( % ) change
contract generation | $ 827 million | $ 767 million | 8% ( 8 % )
competitive supply | $ 440 million | $ 559 million | ( 21% ( 21 % ) )
large utilities | $ 739 million | $ 538 million | 37% ( 37 % )
growth distribution | $ 296 million | $ 131 million | 126% ( 126 % )
contract generation gross margin increased $ 60 million , or 8% ( 8 % ) , to $ 827 million in 2001 from $ 767 million in 2000 . excluding businesses acquired or that commenced commercial operations during 2001 and 2000 , contract generation gross margin decreased 6% ( 6 % ) to $ 710 million in 2001 . contract generation gross margin increased in all geographic regions except for asia . the contract generation gross margin as a percentage of revenues decreased to 33% ( 33 % ) in 2001 from 44% ( 44 % ) in 2000 . in south america , contract generation gross margin increased $ 17 million and was 27% ( 27 % ) of revenues . the increase is due to the acquisition of gener offset by a decline at tiete from the rationing of electricity in brazil . in north america , contract generation gross margin increased $ 8 million and was 50% ( 50 % ) of revenues . the increase is due to improvements at southland and beaver valley partially offset by a decrease at thames from the contract buydown ( see footnote 13 to the company 2019s consolidated financial statements ) . in europe/ africa , contract generation gross margin increased $ 44 million and was 30% ( 30 % ) of revenues . the increase is due primarily to our additional ownership interest in kilroot and the acquisition of ebute in nigeria . in asia , contract generation gross margin decreased $ 22 million and was 29% ( 29 % ) of revenues . the decrease is due mainly to additional bad debt provisions at jiaozuo , hefei and aixi in china that were partially offset by the start of commercial operations at haripur . the decrease in contract generation gross margin as a percentage of revenue is due to the acquisition of generation businesses with overall gross margin percentages , which are lower than the overall portfolio of generation businesses . as a percentage of sales , contract generation gross margin declined in south america and asia , was relatively flat in north america and increased in europe/africa and the caribbean . the competitive supply gross margin decreased $ 119 million , or 21% ( 21 % ) , to $ 440 million in 2001 from $ 559 million in 2000 . excluding businesses acquired or that commenced commercial operations during 2001 and 2000 , competitive supply gross margin decreased 26% ( 26 % ) to $ 408 million in 2001 . the overall decrease is due to declines in europe/africa and south america that were partially offset by slight increases in north america , the caribbean and asia . the competitive supply gross margin as a percentage of revenues decreased to 16% ( 16 % ) in 2001 from 23% ( 23 % ) in 2000 . in south america , competitive supply segment gross margin decreased $ 61 million and was 1% ( 1 % ) of revenues due to declines at our businesses in argentina . in europe/africa , competitive supply segment gross margin decreased $ 95 million and was 22% ( 22 % ) of revenues . the decrease is due primarily to declines at drax , barry and fifoots from the lower market prices in the u.k . in north america , competitive supply segment gross margin increased $ 14 million and was 11% ( 11 % ) of revenues . the increase was due to an expanded customer base at new energy and was partially offset by decreases at somerset in new york and deepwater in texas . in the caribbean ( which includes colombia ) , the competitive supply gross margin increased $ 15 million and was 29% ( 29 % ) of revenues . the increase is due primarily to the acquisition of chivor . as a percentage .
Question:
2001 revenue from large utilities were how many times the revenues from the growth distribution segment?
Important information:
table_1: the contract generation of 2001 is $ 827 million ; the contract generation of 2000 is $ 767 million ; the contract generation of % ( % ) change is 8% ( 8 % ) ;
table_3: the large utilities of 2001 is $ 739 million ; the large utilities of 2000 is $ 538 million ; the large utilities of % ( % ) change is 37% ( 37 % ) ;
table_4: the growth distribution of 2001 is $ 296 million ; the growth distribution of 2000 is $ 131 million ; the growth distribution of % ( % ) change is 126% ( 126 % ) ;
Reasoning Steps:
Step: divide1-1(739, 296) = 2.5
Program:
divide(739, 296)
Program (Nested):
divide(739, 296)
| finqa630 |
what was the percentage growth in the defined benefit plan income from 2016 to 2017
Important information:
text_6: corporate corporate expenses increased by $ 5.7 million mainly due to the impairment of a long lived asset and recognition of an actuarial gain versus an actuarial loss in 2016 and higher defined benefit plan income during 2017 compared to 2016 .
table_2: ( in millions ) the defined benefit plan income of 2017 is 4.2 ; the defined benefit plan income of 2016 is 2.9 ;
table_3: ( in millions ) the defined benefit plan recognition of actuarial gains ( losses ) of 2017 is 0.5 ; the defined benefit plan recognition of actuarial gains ( losses ) of 2016 is -1.9 ( 1.9 ) ;
Reasoning Steps:
Step: minus1-1(4.2, 2.9) = 1.3
Step: divide1-2(#0, 2.9) = 44.8%
Program:
subtract(4.2, 2.9), divide(#0, 2.9)
Program (Nested):
divide(subtract(4.2, 2.9), 2.9)
| 0.44828 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
net sales increased $ 29.9 million , or 6.3% ( 6.3 % ) , due to higher sales volume driven primarily by continuing improvement in the u.s . home products market and the benefit from new product introductions and price increases to help mitigate cumulative raw material cost increases . operating income increased $ 12.6 million , or 20.4% ( 20.4 % ) , due to higher net sales , the benefits from productivity improvements and leveraging sales on our existing fixed cost base . security net sales increased $ 12.8 million , or 2.2% ( 2.2 % ) , due to higher sales volume and price increases to help mitigate cumulative raw material cost increases . these benefits were partially offset by the impact of our exiting of two product lines in our commercial distribution channel . operating income increased $ 5.8 million , or 8.7% ( 8.7 % ) , primarily due to the higher net sales , the benefits from productivity improvements , lower restructuring and other charges ( approximately $ 6 million ) relating to the completion in 2016 of a manufacturing facility relocation , favorable foreign exchange and the related cost savings resulting from the facility relocation . corporate corporate expenses increased by $ 5.7 million mainly due to the impairment of a long lived asset and recognition of an actuarial gain versus an actuarial loss in 2016 and higher defined benefit plan income during 2017 compared to 2016 . ( in millions ) 2017 2016 .
Table
( in millions ) | 2017 | 2016
general and administrative expense | $ -90.3 ( 90.3 ) | $ -80.9 ( 80.9 )
defined benefit plan income | 4.2 | 2.9
defined benefit plan recognition of actuarial gains ( losses ) | 0.5 | -1.9 ( 1.9 )
total corporate expenses | $ -85.6 ( 85.6 ) | $ -79.9 ( 79.9 )
in future periods the company may record , in the corporate segment , material expense or income associated with actuarial gains and losses arising from periodic remeasurement of our liabilities for defined benefit plans . at a minimum the company will remeasure its defined benefit plan liabilities in the fourth quarter of each year . remeasurements due to plan amendments and settlements may also occur in interim periods during the year . remeasurement of these liabilities attributable to updating our liability discount rates and expected return on assets may , in particular , result in material income or expense recognition . 2016 compared to 2015 total fortune brands net sales net sales increased $ 405.5 million , or 9% ( 9 % ) . the increase was due to higher sales volume primarily from the continuing improvement in u.s . market conditions for home products , the benefit from the acquisitions in our cabinets and plumbing segments and price increases to help mitigate cumulative raw material cost increases and the effect of unfavorable foreign exchange . these benefits were partially offset by unfavorable foreign exchange of approximately $ 27 million and higher sales rebates . cost of products sold cost of products sold increased $ 182.8 million , or 6% ( 6 % ) , due to higher net sales , including the impact of the acquisitions in our cabinets and plumbing segments , partially offset by the benefit of productivity improvements. .
Question:
what was the percentage growth in the defined benefit plan income from 2016 to 2017
Important information:
text_6: corporate corporate expenses increased by $ 5.7 million mainly due to the impairment of a long lived asset and recognition of an actuarial gain versus an actuarial loss in 2016 and higher defined benefit plan income during 2017 compared to 2016 .
table_2: ( in millions ) the defined benefit plan income of 2017 is 4.2 ; the defined benefit plan income of 2016 is 2.9 ;
table_3: ( in millions ) the defined benefit plan recognition of actuarial gains ( losses ) of 2017 is 0.5 ; the defined benefit plan recognition of actuarial gains ( losses ) of 2016 is -1.9 ( 1.9 ) ;
Reasoning Steps:
Step: minus1-1(4.2, 2.9) = 1.3
Step: divide1-2(#0, 2.9) = 44.8%
Program:
subtract(4.2, 2.9), divide(#0, 2.9)
Program (Nested):
divide(subtract(4.2, 2.9), 2.9)
| finqa631 |
how much did the lease obligations drop from 2004 to 2011?
Important information:
text_6: payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter .
table_2: ( in millions ) the lease obligations of payments due by period ( 1 ) total is 2328 ; the lease obligations of payments due by period ( 1 ) 2007 is 351 ; the lease obligations of payments due by period ( 1 ) 2008 is 281 ; the lease obligations of payments due by period ( 1 ) 2009 is 209 ; the lease obligations of payments due by period ( 1 ) 2010 is 178 ; the lease obligations of payments due by period ( 1 ) 2011 is 158 ; the lease obligations of payments due by period ( 1 ) thereafter is 1151 ;
text_28: the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
Reasoning Steps:
Step: minus2-1(205, 120) = 193
Program:
subtract(205, 120)
Program (Nested):
subtract(205, 120)
| 85.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
53management's discussion and analysis of financial condition and results of operations in order to borrow funds under the 5-year credit facility , the company must be in compliance with various conditions , covenants and representations contained in the agreements . the company was in compliance with the terms of the 5-year credit facility at december 31 , 2006 . the company has never borrowed under its domestic revolving credit facilities . utilization of the non-u.s . credit facilities may also be dependent on the company's ability to meet certain conditions at the time a borrowing is requested . contractual obligations , guarantees , and other purchase commitments contractual obligations summarized in the table below are the company's obligations and commitments to make future payments under debt obligations ( assuming earliest possible exercise of put rights by holders ) , lease payment obligations , and purchase obligations as of december 31 , 2006 . payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter .
Table
( in millions ) | payments due by period ( 1 ) total | payments due by period ( 1 ) 2007 | payments due by period ( 1 ) 2008 | payments due by period ( 1 ) 2009 | payments due by period ( 1 ) 2010 | payments due by period ( 1 ) 2011 | payments due by period ( 1 ) thereafter
long-term debt obligations | $ 4134 | $ 1340 | $ 198 | $ 4 | $ 534 | $ 607 | $ 1451
lease obligations | 2328 | 351 | 281 | 209 | 178 | 158 | 1151
purchase obligations | 1035 | 326 | 120 | 26 | 12 | 12 | 539
total contractual obligations | $ 7497 | $ 2017 | $ 599 | $ 239 | $ 724 | $ 777 | $ 3141
( 1 ) amounts included represent firm , non-cancelable commitments . debt obligations : at december 31 , 2006 , the company's long-term debt obligations , including current maturities and unamortized discount and issue costs , totaled $ 4.1 billion , as compared to $ 4.0 billion at december 31 , 2005 . a table of all outstanding long-term debt securities can be found in note 4 , ""debt and credit facilities'' to the company's consolidated financial statements . lease obligations : the company owns most of its major facilities , but does lease certain office , factory and warehouse space , land , and information technology and other equipment under principally non-cancelable operating leases . at december 31 , 2006 , future minimum lease obligations , net of minimum sublease rentals , totaled $ 2.3 billion . rental expense , net of sublease income , was $ 241 million in 2006 , $ 250 million in 2005 and $ 205 million in 2004 . purchase obligations : the company has entered into agreements for the purchase of inventory , license of software , promotional agreements , and research and development agreements which are firm commitments and are not cancelable . the longest of these agreements extends through 2015 . total payments expected to be made under these agreements total $ 1.0 billion . commitments under other long-term agreements : the company has entered into certain long-term agreements to purchase software , components , supplies and materials from suppliers . most of the agreements extend for periods of one to three years ( three to five years for software ) . however , generally these agreements do not obligate the company to make any purchases , and many permit the company to terminate the agreement with advance notice ( usually ranging from 60 to 180 days ) . if the company were to terminate these agreements , it generally would be liable for certain termination charges , typically based on work performed and supplier on-hand inventory and raw materials attributable to canceled orders . the company's liability would only arise in the event it terminates the agreements for reasons other than ""cause.'' the company also enters into a number of arrangements for the sourcing of supplies and materials with minimum purchase commitments and take-or-pay obligations . the majority of the minimum purchase obligations under these contracts are over the life of the contract as opposed to a year-by-year take-or-pay . if these agreements were terminated at december 31 , 2006 , the company's obligation would not have been significant . the company does not anticipate the cancellation of any of these agreements in the future . subsequent to the end of 2006 , the company entered into take-or-pay arrangements with suppliers through may 2009 with minimum purchase obligations of $ 2.2 billion during that period . the company estimates purchases during that period that exceed the minimum obligations . the company outsources certain corporate functions , such as benefit administration and information technology-related services . these contracts are expected to expire in 2013 . the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
Question:
how much did the lease obligations drop from 2004 to 2011?
Important information:
text_6: payments due by period ( 1 ) ( in millions ) total 2007 2008 2009 2010 2011 thereafter .
table_2: ( in millions ) the lease obligations of payments due by period ( 1 ) total is 2328 ; the lease obligations of payments due by period ( 1 ) 2007 is 351 ; the lease obligations of payments due by period ( 1 ) 2008 is 281 ; the lease obligations of payments due by period ( 1 ) 2009 is 209 ; the lease obligations of payments due by period ( 1 ) 2010 is 178 ; the lease obligations of payments due by period ( 1 ) 2011 is 158 ; the lease obligations of payments due by period ( 1 ) thereafter is 1151 ;
text_28: the total remaining payments under these contracts are approximately $ 1.3 billion over the remaining seven years ; however , these contracts can be %%transmsg*** transmitting job : c11830 pcn : 055000000 *** %%pcmsg| |00030|yes|no|02/28/2007 13:05|0|1|page is valid , no graphics -- color : n| .
Reasoning Steps:
Step: minus2-1(205, 120) = 193
Program:
subtract(205, 120)
Program (Nested):
subtract(205, 120)
| finqa632 |
how much higher is the fair value than carrying value ? in millions $ .
Important information:
text_0: long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .
table_7: ( in millions ) the total long-term borrowings of maturity amount is $ 4950 ; the total long-term borrowings of unamortized discount is $ -11 ( 11 ) ; the total long-term borrowings of carrying value is $ 4939 ; the total long-term borrowings of fair value is $ 5284 ;
text_1: long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .
Reasoning Steps:
Step: minus1-1(5284, 4939) = 345
Program:
subtract(5284, 4939)
Program (Nested):
subtract(5284, 4939)
| 345.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .
Table
( in millions ) | maturity amount | unamortized discount | carrying value | fair value
3.50% ( 3.50 % ) notes due 2014 | $ 1000 | $ 2014 | $ 1000 | $ 1029
1.375% ( 1.375 % ) notes due 2015 | 750 | 2014 | 750 | 759
6.25% ( 6.25 % ) notes due 2017 | 700 | -2 ( 2 ) | 698 | 812
5.00% ( 5.00 % ) notes due 2019 | 1000 | -2 ( 2 ) | 998 | 1140
4.25% ( 4.25 % ) notes due 2021 | 750 | -3 ( 3 ) | 747 | 799
3.375% ( 3.375 % ) notes due 2022 | 750 | -4 ( 4 ) | 746 | 745
total long-term borrowings | $ 4950 | $ -11 ( 11 ) | $ 4939 | $ 5284
long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 . 2015 and 2022 notes . in may 2012 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations . these notes were issued as two separate series of senior debt securities including $ 750 million of 1.375% ( 1.375 % ) notes maturing in june 2015 ( the 201c2015 notes 201d ) and $ 750 million of 3.375% ( 3.375 % ) notes maturing in june 2022 ( the 201c2022 notes 201d ) . net proceeds were used to fund the repurchase of blackrock 2019s common stock and series b preferred from barclays and affiliates and for general corporate purposes . interest on the 2015 notes and the 2022 notes of approximately $ 10 million and $ 25 million per year , respectively , is payable semi-annually on june 1 and december 1 of each year , which commenced december 1 , 2012 . the 2015 notes and 2022 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the 201cmake-whole 201d redemption price represents a price , subject to the specific terms of the 2015 and 2022 notes and related indenture , that is the greater of ( a ) par value and ( b ) the present value of future payments that will not be paid because of an early redemption , which is discounted at a fixed spread over a comparable treasury security . the 2015 notes and 2022 notes were issued at a discount of $ 5 million that is being amortized over the term of the notes . the company incurred approximately $ 7 million of debt issuance costs , which are being amortized over the respective terms of the 2015 notes and 2022 notes . at december 31 , 2013 , $ 5 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition . 2013 and 2021 notes . in may 2011 , the company issued $ 1.5 billion in aggregate principal amount of unsecured unsubordinated obligations . these notes were issued as two separate series of senior debt securities including $ 750 million of 4.25% ( 4.25 % ) notes maturing in may 2021 and $ 750 million of floating rate notes ( 201c2013 floating rate notes 201d ) , which were repaid in may 2013 at maturity . net proceeds of this offering were used to fund the repurchase of blackrock 2019s series b preferred from affiliates of merrill lynch & co. , inc . ( 201cmerrill lynch 201d ) . interest on the 4.25% ( 4.25 % ) notes due in 2021 ( 201c2021 notes 201d ) is payable semi-annually on may 24 and november 24 of each year , which commenced november 24 , 2011 , and is approximately $ 32 million per year . the 2021 notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . the 2021 notes were issued at a discount of $ 4 million that is being amortized over the term of the notes . the company incurred approximately $ 7 million of debt issuance costs for the $ 1.5 billion note issuances , which are being amortized over the respective terms of the notes . at december 31 , 2013 , $ 3 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition . in may 2011 , in conjunction with the issuance of the 2013 floating rate notes , the company entered into a $ 750 million notional interest rate swap maturing in 2013 to hedge the future cash flows of its obligation at a fixed rate of 1.03% ( 1.03 % ) . during the second quarter of 2013 , the interest rate swap matured and the 2013 floating rate notes were fully repaid . 2012 , 2014 and 2019 notes . in december 2009 , the company issued $ 2.5 billion in aggregate principal amount of unsecured and unsubordinated obligations . these notes were issued as three separate series of senior debt securities including $ 0.5 billion of 2.25% ( 2.25 % ) notes , which were repaid in december 2012 , $ 1.0 billion of 3.50% ( 3.50 % ) notes and $ 1.0 billion of 5.0% ( 5.0 % ) notes maturing in december 2014 and 2019 , respectively . net proceeds of this offering were used to repay borrowings under the cp program , which was used to finance a portion of the acquisition of barclays global investors ( 201cbgi 201d ) from barclays on december 1 , 2009 ( the 201cbgi transaction 201d ) , and for general corporate purposes . interest on the 2014 notes and 2019 notes of approximately $ 35 million and $ 50 million per year , respectively , is payable semi-annually in arrears on june 10 and december 10 of each year . these notes may be redeemed prior to maturity at any time in whole or in part at the option of the company at a 201cmake-whole 201d redemption price . these notes were issued collectively at a discount of $ 5 million , which is being amortized over the respective terms of the notes . the company incurred approximately $ 13 million of debt issuance costs , which are being amortized over the respective terms of these notes . at december 31 , 2013 , $ 4 million of unamortized debt issuance costs was included in other assets on the consolidated statement of financial condition . 2017 notes . in september 2007 , the company issued $ 700 million in aggregate principal amount of 6.25% ( 6.25 % ) senior unsecured and unsubordinated notes maturing on september 15 , 2017 ( the 201c2017 notes 201d ) . a portion of the net proceeds of the 2017 notes was used to fund the initial cash payment for the acquisition of the fund of funds business of quellos and the remainder was used for general corporate purposes . interest is payable semi-annually in arrears on march 15 and september 15 of each year , or approximately $ 44 million per year . the 2017 notes may be redeemed prior .
Question:
how much higher is the fair value than carrying value ? in millions $ .
Important information:
text_0: long-term borrowings the carrying value and fair value of long-term borrowings estimated using market prices at december 31 , 2013 included the following : ( in millions ) maturity amount unamortized discount carrying value fair value .
table_7: ( in millions ) the total long-term borrowings of maturity amount is $ 4950 ; the total long-term borrowings of unamortized discount is $ -11 ( 11 ) ; the total long-term borrowings of carrying value is $ 4939 ; the total long-term borrowings of fair value is $ 5284 ;
text_1: long-term borrowings at december 31 , 2012 had a carrying value of $ 5.687 billion and a fair value of $ 6.275 billion determined using market prices at the end of december 2012 .
Reasoning Steps:
Step: minus1-1(5284, 4939) = 345
Program:
subtract(5284, 4939)
Program (Nested):
subtract(5284, 4939)
| finqa633 |
what is the roi of s&p 500 from 2007 to 2012?
Important information:
table_1: fiscal year ended ( 2 ) the december 31 2007 of snap-onincorporated is $ 100.00 ; the december 31 2007 of peer group ( 3 ) is $ 100.00 ; the december 31 2007 of s&p 500 is $ 100.00 ;
table_2: fiscal year ended ( 2 ) the december 31 2008 of snap-onincorporated is 83.66 ; the december 31 2008 of peer group ( 3 ) is 66.15 ; the december 31 2008 of s&p 500 is 63.00 ;
table_6: fiscal year ended ( 2 ) the december 31 2012 of snap-onincorporated is 187.26 ; the december 31 2012 of peer group ( 3 ) is 129.00 ; the december 31 2012 of s&p 500 is 108.59 ;
Reasoning Steps:
Step: minus2-1(108.59, const_100) = 8.59
Step: divide2-2(#0, const_100) = 8.59%
Program:
subtract(108.59, const_100), divide(#0, const_100)
Program (Nested):
divide(subtract(108.59, const_100), const_100)
| 0.0859 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
five-year stock performance graph the graph below illustrates the cumulative total shareholder return on snap-on common stock since december 31 , 2007 , assuming that dividends were reinvested . the graph compares snap-on 2019s performance to that of the standard & poor 2019s 500 stock index ( 201cs&p 500 201d ) and a peer group . snap-on incorporated total shareholder return ( 1 ) fiscal year ended ( 2 ) snap-on incorporated peer group ( 3 ) s&p 500 .
Table
fiscal year ended ( 2 ) | snap-onincorporated | peer group ( 3 ) | s&p 500
december 31 2007 | $ 100.00 | $ 100.00 | $ 100.00
december 31 2008 | 83.66 | 66.15 | 63.00
december 31 2009 | 93.20 | 84.12 | 79.67
december 31 2010 | 128.21 | 112.02 | 91.67
december 31 2011 | 117.47 | 109.70 | 93.61
december 31 2012 | 187.26 | 129.00 | 108.59
( 1 ) assumes $ 100 was invested on december 31 , 2007 , and that dividends were reinvested quarterly . ( 2 ) the company's fiscal year ends on the saturday that is on or nearest to december 31 of each year ; for ease of calculation , the fiscal year end is assumed to be december 31 . ( 3 ) the peer group consists of : stanley black & decker , inc. , danaher corporation , emerson electric co. , genuine parts company , newell rubbermaid inc. , pentair ltd. , spx corporation and w.w . grainger , inc . cooper industries plc , a former member of the peer group , was removed , as it was acquired by a larger , non-comparable company in 2012 . 2012 annual report 23 snap-on incorporated peer group s&p 500 2007 2008 201120102009 2012 .
Question:
what is the roi of s&p 500 from 2007 to 2012?
Important information:
table_1: fiscal year ended ( 2 ) the december 31 2007 of snap-onincorporated is $ 100.00 ; the december 31 2007 of peer group ( 3 ) is $ 100.00 ; the december 31 2007 of s&p 500 is $ 100.00 ;
table_2: fiscal year ended ( 2 ) the december 31 2008 of snap-onincorporated is 83.66 ; the december 31 2008 of peer group ( 3 ) is 66.15 ; the december 31 2008 of s&p 500 is 63.00 ;
table_6: fiscal year ended ( 2 ) the december 31 2012 of snap-onincorporated is 187.26 ; the december 31 2012 of peer group ( 3 ) is 129.00 ; the december 31 2012 of s&p 500 is 108.59 ;
Reasoning Steps:
Step: minus2-1(108.59, const_100) = 8.59
Step: divide2-2(#0, const_100) = 8.59%
Program:
subtract(108.59, const_100), divide(#0, const_100)
Program (Nested):
divide(subtract(108.59, const_100), const_100)
| finqa634 |
what were average net sales for aeronautics in millions between 2014 and 2016?
Important information:
text_3: it is possible that we may have to record additional loss reserves in future periods , which could be material to our operating results .
table_1: the net sales of 2016 is $ 17769 ; the net sales of 2015 is $ 15570 ; the net sales of 2014 is $ 14920 ;
table_2: the operating profit of 2016 is 1887 ; the operating profit of 2015 is 1681 ; the operating profit of 2014 is 1649 ;
Reasoning Steps:
Step: average1-1(net sales, none) = 16086
Program:
table_average(net sales, none)
Program (Nested):
table_average(net sales, none)
| 16086.33333 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
$ 70 million . since that time , we have continued to experience issues related to customer requirements and the implementation of this contract and have periodically accrued additional reserves . consequently , we are continuing to monitor the scope , estimated costs , and viability of the program and the possibility of additional customer funding . it is possible that we may have to record additional loss reserves in future periods , which could be material to our operating results . however , we cannot make an estimate of the total expected costs at this time due to uncertainties inherent in the estimation process . our consolidated net adjustments not related to volume , including net profit booking rate adjustments and other matters , net of state income taxes , increased segment operating profit by approximately $ 1.5 billion , $ 1.7 billion and $ 1.6 billion for 2016 , 2015 and 2014 . the decrease in our consolidated net adjustments in 2016 compared to 2015 was primarily due to a decrease in profit booking rate adjustments at our mfc and space systems business segments , partially offset by an increase at our rms business segment . the increase in our consolidated net adjustments in 2015 compared to 2014 was primarily due to an increase in profit booking rate adjustments at our space systems and aeronautics business segments , offset by a decrease in profit booking rate adjustments at our rms and mfc business segments . the consolidated net adjustments for 2016 are inclusive of approximately $ 530 million in unfavorable items , which include reserves for performance matters on an international program at rms . the consolidated net adjustments for 2015 are inclusive of approximately $ 550 million in unfavorable items , which include reserves for performance matters on an international program at rms and on commercial satellite programs at space systems . the consolidated net adjustments for 2014 are inclusive of approximately $ 535 million in unfavorable items , which include reserves recorded on certain training and logistics solutions programs at rms and net warranty reserve adjustments for various programs ( including jassm and gmlrs ) at mfc as described in the respective business segment 2019s results of operations below . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles and related technologies . aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , c-5m super galaxy and f-22 raptor . aeronautics 2019 operating results included the following ( in millions ) : .
Table
| 2016 | 2015 | 2014
net sales | $ 17769 | $ 15570 | $ 14920
operating profit | 1887 | 1681 | 1649
operating margin | 10.6% ( 10.6 % ) | 10.8% ( 10.8 % ) | 11.1% ( 11.1 % )
backlog atyear-end | $ 34200 | $ 31800 | $ 27600
2016 compared to 2015 aeronautics 2019 net sales in 2016 increased $ 2.2 billion , or 14% ( 14 % ) , compared to 2015 . the increase was attributable to higher net sales of approximately $ 1.7 billion for the f-35 program due to increased volume on aircraft production and sustainment activities , partially offset by lower volume on development activities ; and approximately $ 290 million for the c-130 program due to increased deliveries ( 24 aircraft delivered in 2016 compared to 21 in 2015 ) and increased sustainment activities ; and approximately $ 250 million for the f-16 program primarily due to higher volume on aircraft modernization programs . the increases were partially offset by lower net sales of approximately $ 55 million for the c-5 program due to decreased sustainment activities . aeronautics 2019 operating profit in 2016 increased $ 206 million , or 12% ( 12 % ) , compared to 2015 . operating profit increased approximately $ 195 million for the f-35 program due to increased volume on aircraft production and sustainment activities and higher risk retirements ; and by approximately $ 60 million for aircraft support and maintenance programs due to higher risk retirements and increased volume . these increases were partially offset by lower operating profit of approximately $ 65 million for the c-130 program due to contract mix and lower risk retirements . adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 20 million higher in 2016 compared to 2015 . 2015 compared to 2014 aeronautics 2019 net sales in 2015 increased $ 650 million , or 4% ( 4 % ) , compared to 2014 . the increase was attributable to higher net sales of approximately $ 1.4 billion for f-35 production contracts due to increased volume on aircraft production and sustainment activities ; and approximately $ 150 million for the c-5 program due to increased deliveries ( nine aircraft .
Question:
what were average net sales for aeronautics in millions between 2014 and 2016?
Important information:
text_3: it is possible that we may have to record additional loss reserves in future periods , which could be material to our operating results .
table_1: the net sales of 2016 is $ 17769 ; the net sales of 2015 is $ 15570 ; the net sales of 2014 is $ 14920 ;
table_2: the operating profit of 2016 is 1887 ; the operating profit of 2015 is 1681 ; the operating profit of 2014 is 1649 ;
Reasoning Steps:
Step: average1-1(net sales, none) = 16086
Program:
table_average(net sales, none)
Program (Nested):
table_average(net sales, none)
| finqa635 |
by what percent did the provision for income taxes as a percentage of pretax income decrease between 2008 and 2009?
Important information:
text_9: reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .
text_17: the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .
text_19: the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 .
Reasoning Steps:
Step: minus2-1(38.4, 37.1) = 1.2
Program:
subtract(38.4, 37.1)
Program (Nested):
subtract(38.4, 37.1)
| 1.3 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 . average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 . other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors . net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 . administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 . this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions . changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors . our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 . the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program . reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses . average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 . advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment . depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans . other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries . our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs . our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 . the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 . the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .
Table
| 2008 | 2009 | change
other than temporary impairments recognized | $ -91.3 ( 91.3 ) | $ -36.1 ( 36.1 ) | $ 55.2
capital gain distributions received | 5.6 | 2.0 | -3.6 ( 3.6 )
net gain ( loss ) realized on fund dispositions | -4.5 ( 4.5 ) | 7.4 | 11.9
net loss recognized on fund holdings | $ -90.2 ( 90.2 ) | $ -26.7 ( 26.7 ) | $ 63.5
lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments . the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 . our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) . c a p i t a l r e s o u r c e s a n d l i q u i d i t y . during 2010 , stockholders 2019 equity increased from $ 2.9 billion to $ 3.3 billion . we repurchased nearly 5.0 million common shares for $ 240.0 million in 2010 . tangible book value is $ 2.6 billion at december 31 , 2010 , and our cash and cash equivalents and our mutual fund investment holdings total more than $ 1.5 billion . given the availability of these financial resources , we do not maintain an available external source of liquidity . t . rowe price group annual report 2010 .
Question:
by what percent did the provision for income taxes as a percentage of pretax income decrease between 2008 and 2009?
Important information:
text_9: reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses .
text_17: the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .
text_19: the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 .
Reasoning Steps:
Step: minus2-1(38.4, 37.1) = 1.2
Program:
subtract(38.4, 37.1)
Program (Nested):
subtract(38.4, 37.1)
| finqa636 |
what was the change in property plant and equipment net from 2012 to 2013 in millions?
Important information:
text_14: cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion .
table_2: the property plant and equipment net of 2014 is $ 20624 ; the property plant and equipment net of 2013 is $ 16597 ; the property plant and equipment net of 2012 is $ 15452 ;
table_5: the cash generated by operating activities of 2014 is $ 59713 ; the cash generated by operating activities of 2013 is $ 53666 ; the cash generated by operating activities of 2012 is $ 50856 ;
Reasoning Steps:
Step: minus1-1(16597, 15452) = 1145
Program:
subtract(16597, 15452)
Program (Nested):
subtract(16597, 15452)
| 1145.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
table of contents liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 27 , 2014 , september 28 , 2013 and september 29 , 2012 ( in millions ) : 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 . to provide additional flexibility in managing liquidity , the company began accessing the commercial paper markets in the third quarter of 2014 . the company currently anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash , cash generated from on-going u.s . operating activities and from borrowings . as of september 27 , 2014 and september 28 , 2013 , $ 137.1 billion and $ 111.3 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 . amounts held by foreign subsidiaries are generally subject to u.s . income taxation on repatriation to the u.s . the company 2019s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer . the policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss . during 2014 , cash generated from operating activities of $ 59.7 billion was a result of $ 39.5 billion of net income , non-cash adjustments to net income of $ 13.2 billion and an increase in net change in operating assets and liabilities of $ 7.0 billion . cash used in investing activities of $ 22.6 billion during 2014 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 9.0 billion ; cash used to acquire property , plant and equipment of $ 9.6 billion ; and cash paid for business acquisitions , net of cash acquired , of $ 3.8 billion . cash used in financing activities of $ 37.5 billion during 2014 consisted primarily of cash used to repurchase common stock of $ 45.0 billion and cash used to pay dividends and dividend equivalents of $ 11.1 billion , partially offset by net proceeds from the issuance of long-term debt and commercial paper of $ 12.0 billion and $ 6.3 billion , respectively . during 2013 , cash generated from operating activities of $ 53.7 billion was a result of $ 37.0 billion of net income , non-cash adjustments to net income of $ 10.2 billion and an increase in net change in operating assets and liabilities of $ 6.5 billion . cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion . cash used in financing activities of $ 16.4 billion during 2013 consisted primarily of cash used to repurchase common stock of $ 22.9 billion and cash used to pay dividends and dividend equivalents of $ 10.6 billion , partially offset by net proceeds from the issuance of long-term debt of $ 16.9 billion . apple inc . | 2014 form 10-k | 35 .
Table
| 2014 | 2013 | 2012
cash cash equivalents and marketable securities | $ 155239 | $ 146761 | $ 121251
property plant and equipment net | $ 20624 | $ 16597 | $ 15452
long-term debt | $ 28987 | $ 16960 | $ 0
working capital | $ 5083 | $ 29628 | $ 19111
cash generated by operating activities | $ 59713 | $ 53666 | $ 50856
cash used in investing activities | $ -22579 ( 22579 ) | $ -33774 ( 33774 ) | $ -48227 ( 48227 )
cash used in financing activities | $ -37549 ( 37549 ) | $ -16379 ( 16379 ) | $ -1698 ( 1698 )
.
Question:
what was the change in property plant and equipment net from 2012 to 2013 in millions?
Important information:
text_14: cash used in investing activities of $ 33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities , net of sales and maturities , of $ 24.0 billion and cash used to acquire property , plant and equipment of $ 8.2 billion .
table_2: the property plant and equipment net of 2014 is $ 20624 ; the property plant and equipment net of 2013 is $ 16597 ; the property plant and equipment net of 2012 is $ 15452 ;
table_5: the cash generated by operating activities of 2014 is $ 59713 ; the cash generated by operating activities of 2013 is $ 53666 ; the cash generated by operating activities of 2012 is $ 50856 ;
Reasoning Steps:
Step: minus1-1(16597, 15452) = 1145
Program:
subtract(16597, 15452)
Program (Nested):
subtract(16597, 15452)
| finqa637 |
without the us , what would the total net revenue be for 2017?
Important information:
table_1: year ended december 31, the us sbu of total revenue 2017 is $ 3229 ; the us sbu of total revenue 2016 is $ 3429 ; the us sbu of total revenue 2015 is $ 3593 ;
table_4: year ended december 31, the mcac sbu of total revenue 2017 is 2448 ; the mcac sbu of total revenue 2016 is 2172 ; the mcac sbu of total revenue 2015 is 2353 ;
table_8: year ended december 31, the total revenue of total revenue 2017 is $ 10530 ; the total revenue of total revenue 2016 is $ 10281 ; the total revenue of total revenue 2015 is $ 11260 ;
Reasoning Steps:
Step: minus1-1(10530, 3229) = 7304
Step: multiply1-2(#0, const_1000000) = 7304000000
Program:
subtract(10530, 3229), multiply(#0, const_1000000)
Program (Nested):
multiply(subtract(10530, 3229), const_1000000)
| 7301000000.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the aes corporation notes to consolidated financial statements 2014 ( continued ) december 31 , 2017 , 2016 , and 2015 on december 8 , 2017 , the board of directors declared a quarterly common stock dividend of $ 0.13 per share payable on february 15 , 2018 to shareholders of record at the close of business on february 1 , 2018 . stock repurchase program 2014 no shares were repurchased in 2017 . the cumulative repurchases from the commencement of the program in july 2010 through december 31 , 2017 totaled 154.3 million shares for a total cost of $ 1.9 billion , at an average price per share of $ 12.12 ( including a nominal amount of commissions ) . as of december 31 , 2017 , $ 246 million remained available for repurchase under the program . the common stock repurchased has been classified as treasury stock and accounted for using the cost method . a total of 155924785 and 156878891 shares were held as treasury stock at december 31 , 2017 and 2016 , respectively . restricted stock units under the company's employee benefit plans are issued from treasury stock . the company has not retired any common stock repurchased since it began the program in july 2010 . 15 . segments and geographic information the segment reporting structure uses the company's organizational structure as its foundation to reflect how the company manages the businesses internally and is organized by geographic regions which provides a socio- political-economic understanding of our business . during the third quarter of 2017 , the europe and asia sbus were merged in order to leverage scale and are now reported as part of the eurasia sbu . the management reporting structure is organized by five sbus led by our president and chief executive officer : us , andes , brazil , mcac and eurasia sbus . the company determined that it has five operating and five reportable segments corresponding to its sbus . all prior period results have been retrospectively revised to reflect the new segment reporting structure . in february 2018 , we announced a reorganization as a part of our ongoing strategy to simplify our portfolio , optimize our cost structure , and reduce our carbon intensity . the company is currently evaluating the impact this reorganization will have on our segment reporting structure . corporate and other 2014 corporate overhead costs which are not directly associated with the operations of our five reportable segments are included in "corporate and other." also included are certain intercompany charges such as self-insurance premiums which are fully eliminated in consolidation . the company uses adjusted ptc as its primary segment performance measure . adjusted ptc , a non-gaap measure , is defined by the company as pre-tax income from continuing operations attributable to the aes corporation excluding gains or losses of the consolidated entity due to ( a ) unrealized gains or losses related to derivative transactions ; ( b ) unrealized foreign currency gains or losses ; ( c ) gains , losses and associated benefits and costs due to dispositions and acquisitions of business interests , including early plant closures ; ( d ) losses due to impairments ; ( e ) gains , losses and costs due to the early retirement of debt ; and ( f ) costs directly associated with a major restructuring program , including , but not limited to , workforce reduction efforts , relocations , and office consolidation . adjusted ptc also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities . the company has concluded adjusted ptc better reflects the underlying business performance of the company and is the most relevant measure considered in the company's internal evaluation of the financial performance of its segments . additionally , given its large number of businesses and complexity , the company concluded that adjusted ptc is a more transparent measure that better assists investors in determining which businesses have the greatest impact on the company's results . revenue and adjusted ptc are presented before inter-segment eliminations , which includes the effect of intercompany transactions with other segments except for interest , charges for certain management fees , and the write-off of intercompany balances , as applicable . all intra-segment activity has been eliminated within the segment . inter-segment activity has been eliminated within the total consolidated results . the following tables present financial information by segment for the periods indicated ( in millions ) : .
Table
year ended december 31, | total revenue 2017 | total revenue 2016 | total revenue 2015
us sbu | $ 3229 | $ 3429 | $ 3593
andes sbu | 2710 | 2506 | 2489
brazil sbu | 542 | 450 | 962
mcac sbu | 2448 | 2172 | 2353
eurasia sbu | 1590 | 1670 | 1875
corporate and other | 35 | 77 | 31
eliminations | -24 ( 24 ) | -23 ( 23 ) | -43 ( 43 )
total revenue | $ 10530 | $ 10281 | $ 11260
.
Question:
without the us , what would the total net revenue be for 2017?
Important information:
table_1: year ended december 31, the us sbu of total revenue 2017 is $ 3229 ; the us sbu of total revenue 2016 is $ 3429 ; the us sbu of total revenue 2015 is $ 3593 ;
table_4: year ended december 31, the mcac sbu of total revenue 2017 is 2448 ; the mcac sbu of total revenue 2016 is 2172 ; the mcac sbu of total revenue 2015 is 2353 ;
table_8: year ended december 31, the total revenue of total revenue 2017 is $ 10530 ; the total revenue of total revenue 2016 is $ 10281 ; the total revenue of total revenue 2015 is $ 11260 ;
Reasoning Steps:
Step: minus1-1(10530, 3229) = 7304
Step: multiply1-2(#0, const_1000000) = 7304000000
Program:
subtract(10530, 3229), multiply(#0, const_1000000)
Program (Nested):
multiply(subtract(10530, 3229), const_1000000)
| finqa638 |
what is the net change in unrecognized tax benefits during 2007?
Important information:
table_1: the amounts of unrecognized tax benefits at january 1 2007 of gross amount is $ 11825 ;
table_4: the amount of unrecognized tax benefit at december 31 2007 of gross amount is $ 23743 ;
table_6: the amount of decreases due to change of position of gross amount is $ -320 ( 320 ) ;
Reasoning Steps:
Step: add1-1(15667, -3749) = 11918
Program:
add(15667, -3749)
Program (Nested):
add(15667, -3749)
| 11918.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
expire between 2019 and 2024 . the company anticipates fully utilizing these net operating losses prior to expiration . the company also has state net operating loss carryforwards resulting in a deferred tax asset of $ 5.3 million at december 31 , 2007 . the company has a full valuation allowance against this amount at december 31 , 2007 . the company has foreign net operating loss carryforwards resulting in deferred tax assets at december 31 , 2007 and 2006 of $ 45.6 million and $ 24.4 million , respectively . the company has valuation allowances against these net operating losses at december 31 , 2007 and 2006 of $ 5.2 million and $ 6.0 million , respectively . at december 31 , 2007 and 2006 , the company had foreign tax credit carryovers of $ 12.4 million and $ 12.7 million , respectively , which expire between 2010 and 2025 . as of december 31 , 2007 and 2006 , the company has a valuation allowance against $ 2.3 million of foreign tax credits that the company 2019s management believes it is more likely than not that it will not realize the benefit . as of january 1 , 2005 , the irs selected the company to participate in the compliance assurance process ( cap ) which is a real-time audit for 2005 and future years . the irs has completed its review for years 2002-2006 which resulted in an immaterial adjustment for tax year 2004 related to a temporary difference and no changes to any other tax year . tax years 2007 and 2008 are currently under audit by the irs . currently management believes the ultimate resolution of the 2007 and 2008 examinations will not result in a material adverse effect to the company 2019s financial position or results of operations . the company provides for united states income taxes on earnings of foreign subsidiaries unless they are considered permanently reinvested outside the united states . at december 31 , 2007 , the cumulative earnings on which united states taxes have not been provided for were $ 159.0 million . if these earnings were repatriated to the united states , they would generate foreign tax credits that could reduce the federal tax liability associated with the foreign dividend . the 2007 calendar year is the first year the company is required to adopt fasb interpretation no . 48 , accounting for uncertainty in income taxes ( 201cfin 48 201d ) . as a result of the adoption , the company had no change to reserves for uncertain tax positions . interest and penalties on accrued but unpaid taxes are classified in the consolidated financial statements as income tax expense . the following table reconciles the gross amounts of unrecognized gross tax benefits at the beginning and end of the period ( in thousands ) : .
Table
| gross amount
amounts of unrecognized tax benefits at january 1 2007 | $ 11825
decreases as a result of tax positions taken in a prior period | -3749 ( 3749 )
increases as a result of tax positions taken in a prior period | 15667
amount of unrecognized tax benefit at december 31 2007 | $ 23743
amount of decreases due to lapse of the applicable statute of limitations | $ -3429 ( 3429 )
amount of decreases due to change of position | $ -320 ( 320 )
included in the balance of unrecognized tax benefits at december 31 , 2007 are potential benefits of $ 5.4 million that , if recognized , would affect the effective tax rate on income from continuing operations . the total amount of interest expense recognized in the consolidated and combined statements of earnings for unpaid taxes is $ 1.4 million for the year ended december 31 , 2007 . the total amount of interest and penalties recognized in the consolidated balance sheet is $ 8.4 million at december 31 , 2007 . due to the expiration of various statutes of limitation in the next twelve months , an estimated $ 3 million of gross unrecognized tax benefits may be recognized during that twelve month period . fidelity national information services , inc . and subsidiaries and affiliates notes to consolidated and combined financial statements 2014 ( continued ) .
Question:
what is the net change in unrecognized tax benefits during 2007?
Important information:
table_1: the amounts of unrecognized tax benefits at january 1 2007 of gross amount is $ 11825 ;
table_4: the amount of unrecognized tax benefit at december 31 2007 of gross amount is $ 23743 ;
table_6: the amount of decreases due to change of position of gross amount is $ -320 ( 320 ) ;
Reasoning Steps:
Step: add1-1(15667, -3749) = 11918
Program:
add(15667, -3749)
Program (Nested):
add(15667, -3749)
| finqa639 |
considering the state of arkansas , what is the percentage of residential customers concerning the total customers?
Important information:
text_4: in 2010 , approximately 42% ( 42 % ) of gas operations 2019 total throughput was to residential customers and approximately 58% ( 58 % ) was to commercial and industrial customers .
table_1: the arkansas of residential is 390668 ; the arkansas of commercial/industrial is 48033 ; the arkansas of total customers is 438701 ;
table_7: the total gas operations of residential is 3016333 ; the total gas operations of commercial/industrial is 246891 ; the total gas operations of total customers is 3263224 ;
Reasoning Steps:
Step: divide1-1(390668, 438701) = 89.05%
Program:
divide(390668, 438701)
Program (Nested):
divide(390668, 438701)
| 0.89051 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
system and to use that system to conduct its electric delivery business and for other purposes that the franchises permit . the terms of the franchises , with various expiration dates , typically range from 30 to 50 years . natural gas distribution cerc corp . 2019s natural gas distribution business ( gas operations ) engages in regulated intrastate natural gas sales to , and natural gas transportation for , approximately 3.3 million residential , commercial and industrial customers in arkansas , louisiana , minnesota , mississippi , oklahoma and texas . the largest metropolitan areas served in each state by gas operations are houston , texas ; minneapolis , minnesota ; little rock , arkansas ; shreveport , louisiana ; biloxi , mississippi ; and lawton , oklahoma . in 2010 , approximately 42% ( 42 % ) of gas operations 2019 total throughput was to residential customers and approximately 58% ( 58 % ) was to commercial and industrial customers . the table below reflects the number of natural gas distribution customers by state as of december 31 , 2010 : residential commercial/ industrial total customers .
Table
| residential | commercial/industrial | total customers
arkansas | 390668 | 48033 | 438701
louisiana | 232135 | 17347 | 249482
minnesota | 738868 | 67489 | 806357
mississippi | 109608 | 12683 | 122291
oklahoma | 93388 | 10620 | 104008
texas | 1451666 | 90719 | 1542385
total gas operations | 3016333 | 246891 | 3263224
gas operations also provides unregulated services consisting of heating , ventilating and air conditioning ( hvac ) equipment and appliance repair , and sales of hvac , hearth and water heating equipment in minnesota . the demand for intrastate natural gas sales to residential customers and natural gas sales and transportation for commercial and industrial customers is seasonal . in 2010 , approximately 71% ( 71 % ) of the total throughput of gas operations 2019 business occurred in the first and fourth quarters . these patterns reflect the higher demand for natural gas for heating purposes during those periods . supply and transportation . in 2010 , gas operations purchased virtually all of its natural gas supply pursuant to contracts with remaining terms varying from a few months to four years . major suppliers in 2010 included bp canada energy marketing corp . ( 25.6% ( 25.6 % ) of supply volumes ) , conocophillips company ( 8.3% ( 8.3 % ) ) , tenaska marketing ventures ( 6.8% ( 6.8 % ) ) , kinder morgan ( 6.3% ( 6.3 % ) ) , oneok energy marketing company ( 4.7% ( 4.7 % ) ) , and cargill , inc . ( 4.6% ( 4.6 % ) ) . numerous other suppliers provided the remaining 43.7% ( 43.7 % ) of gas operations 2019 natural gas supply requirements . gas operations transports its natural gas supplies through various intrastate and interstate pipelines , including those owned by our other subsidiaries , under contracts with remaining terms , including extensions , varying from one to twelve years . gas operations anticipates that these gas supply and transportation contracts will be renewed or replaced prior to their expiration . gas operations actively engages in commodity price stabilization pursuant to annual gas supply plans presented to and/or filed with each of its state regulatory authorities . these price stabilization activities include use of storage gas , contractually establishing fixed prices with our physical gas suppliers and utilizing financial derivative instruments to achieve a variety of pricing structures ( e.g. , fixed price , costless collars and caps ) . its gas supply plans generally call for 25-50% ( 25-50 % ) of winter supplies to be hedged in some fashion . generally , the regulations of the states in which gas operations operates allow it to pass through changes in the cost of natural gas , including gains and losses on financial derivatives associated with the index-priced physical supply , to its customers under purchased gas adjustment provisions in its tariffs . depending upon the jurisdiction , the purchased gas adjustment factors are updated periodically , ranging from monthly to semi-annually , using estimated gas costs . the changes in the cost of gas billed to customers are subject to review by the applicable regulatory bodies. .
Question:
considering the state of arkansas , what is the percentage of residential customers concerning the total customers?
Important information:
text_4: in 2010 , approximately 42% ( 42 % ) of gas operations 2019 total throughput was to residential customers and approximately 58% ( 58 % ) was to commercial and industrial customers .
table_1: the arkansas of residential is 390668 ; the arkansas of commercial/industrial is 48033 ; the arkansas of total customers is 438701 ;
table_7: the total gas operations of residential is 3016333 ; the total gas operations of commercial/industrial is 246891 ; the total gas operations of total customers is 3263224 ;
Reasoning Steps:
Step: divide1-1(390668, 438701) = 89.05%
Program:
divide(390668, 438701)
Program (Nested):
divide(390668, 438701)
| finqa640 |
assuming a fmv of a share equal to 2000 , under the pre-december 31 , 2007 plan , approximately how many shares would each non-employee director receive annually?
Important information:
text_2: there are 7140 restricted shares outstanding under the 1992 restricted stock plan for non-employee directors of union pacific corporation .
text_5: under the directors plan , each non-employee director , upon his or her initial election to the board of directors , receives a grant of 2000 shares of retention shares or retention stock units .
text_6: prior to december 31 , 2007 , each non-employee director received annually an option to purchase at fair value a number of shares of our common stock , not to exceed 10000 shares during any calendar year , determined by dividing 60000 by 1/3 of the fair market value of one share of our common stock on the date of such board of directors meeting , with the resulting quotient rounded up or down to the nearest 50 shares .
Reasoning Steps:
Step: divide1-1(2000, const_3) = 667
Step: divide1-2(60000, #0) = 90
Program:
divide(2000, const_3), divide(60000, #0)
Program (Nested):
divide(60000, divide(2000, const_3))
| 90.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
4 . stock options and other stock plans we have 100962 options outstanding under the 1993 stock option and retention stock plan of union pacific corporation ( 1993 plan ) . there are 7140 restricted shares outstanding under the 1992 restricted stock plan for non-employee directors of union pacific corporation . we no longer grant options or awards of retention shares and units under these plans . in april 2000 , the shareholders approved the union pacific corporation 2000 directors plan ( directors plan ) whereby 1100000 shares of our common stock were reserved for issuance to our non-employee directors . under the directors plan , each non-employee director , upon his or her initial election to the board of directors , receives a grant of 2000 shares of retention shares or retention stock units . prior to december 31 , 2007 , each non-employee director received annually an option to purchase at fair value a number of shares of our common stock , not to exceed 10000 shares during any calendar year , determined by dividing 60000 by 1/3 of the fair market value of one share of our common stock on the date of such board of directors meeting , with the resulting quotient rounded up or down to the nearest 50 shares . as of december 31 , 2009 , 18000 restricted shares were outstanding under the directors plan and 292000 options were outstanding under the directors plan . the union pacific corporation 2001 stock incentive plan ( 2001 plan ) was approved by the shareholders in april 2001 . the 2001 plan reserved 24000000 shares of our common stock for issuance to eligible employees of the corporation and its subsidiaries in the form of non-qualified options , incentive stock options , retention shares , stock units , and incentive bonus awards . non-employee directors were not eligible for awards under the 2001 plan . as of december 31 , 2009 , 3366230 options were outstanding under the 2001 plan . we no longer grant any stock options or other stock or unit awards under this plan . the union pacific corporation 2004 stock incentive plan ( 2004 plan ) was approved by shareholders in april 2004 . the 2004 plan reserved 42000000 shares of our common stock for issuance , plus any shares subject to awards made under the 2001 plan and the 1993 plan that were outstanding on april 16 , 2004 , and became available for regrant pursuant to the terms of the 2004 plan . under the 2004 plan , non- qualified options , stock appreciation rights , retention shares , stock units , and incentive bonus awards may be granted to eligible employees of the corporation and its subsidiaries . non-employee directors are not eligible for awards under the 2004 plan . as of december 31 , 2009 , 8939710 options and 3778997 retention shares and stock units were outstanding under the 2004 plan . pursuant to the above plans 33559150 ; 36961123 ; and 38601728 shares of our common stock were authorized and available for grant at december 31 , 2009 , 2008 , and 2007 , respectively . stock options 2013 we estimate the fair value of our stock option awards using the black-scholes option pricing model . groups of employees and non-employee directors that have similar historical and expected exercise behavior are considered separately for valuation purposes . the table below shows the annual weighted-average assumptions used for valuation purposes : weighted-average assumptions 2009 2008 2007 .
Table
weighted-average assumptions | 2009 | 2008 | 2007
risk-free interest rate | 1.9% ( 1.9 % ) | 2.8% ( 2.8 % ) | 4.9% ( 4.9 % )
dividend yield | 2.3% ( 2.3 % ) | 1.4% ( 1.4 % ) | 1.4% ( 1.4 % )
expected life ( years ) | 5.1 | 5.3 | 4.7
volatility | 31.3% ( 31.3 % ) | 22.2% ( 22.2 % ) | 20.9% ( 20.9 % )
weighted-average grant-date fair value of options granted | $ 11.33 | $ 13.35 | $ 11.19
.
Question:
assuming a fmv of a share equal to 2000 , under the pre-december 31 , 2007 plan , approximately how many shares would each non-employee director receive annually?
Important information:
text_2: there are 7140 restricted shares outstanding under the 1992 restricted stock plan for non-employee directors of union pacific corporation .
text_5: under the directors plan , each non-employee director , upon his or her initial election to the board of directors , receives a grant of 2000 shares of retention shares or retention stock units .
text_6: prior to december 31 , 2007 , each non-employee director received annually an option to purchase at fair value a number of shares of our common stock , not to exceed 10000 shares during any calendar year , determined by dividing 60000 by 1/3 of the fair market value of one share of our common stock on the date of such board of directors meeting , with the resulting quotient rounded up or down to the nearest 50 shares .
Reasoning Steps:
Step: divide1-1(2000, const_3) = 667
Step: divide1-2(60000, #0) = 90
Program:
divide(2000, const_3), divide(60000, #0)
Program (Nested):
divide(60000, divide(2000, const_3))
| finqa641 |
what is the percentage increase in rsus from 2009 to 2010?
Important information:
text_8: stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .
table_1: years ended december 31 the rsus of 2010 is $ 138 ; the rsus of 2009 is $ 124 ; the rsus of 2008 is $ 132 ;
text_18: vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .
Reasoning Steps:
Step: minus2-1(138, 124) = 14
Step: divide2-2(#0, 124) = 11.3%
Program:
subtract(138, 124), divide(#0, 124)
Program (Nested):
divide(subtract(138, 124), 124)
| 0.1129 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
material impact on the service cost and interest cost components of net periodic benefit costs for a 1% ( 1 % ) change in the assumed health care trend rate . for most of the participants in the u.s . plan , aon 2019s liability for future plan cost increases for pre-65 and medical supplement plan coverage is limited to 5% ( 5 % ) per annum . because of this cap , net employer trend rates for these plans are effectively limited to 5% ( 5 % ) per year in the future . during 2007 , aon recognized a plan amendment which phases out post-65 retiree coverage in its u.s . plan over the next three years . the impact of this amendment on net periodic benefit cost is being recognized over the average remaining service life of the employees . 14 . stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .
Table
years ended december 31 | 2010 | 2009 | 2008
rsus | $ 138 | $ 124 | $ 132
performance plans | 62 | 60 | 67
stock options | 17 | 21 | 24
employee stock purchase plans | 4 | 4 | 3
total stock-based compensation expense | 221 | 209 | 226
tax benefit | 75 | 68 | 82
stock-based compensation expense net of tax | $ 146 | $ 141 | $ 144
during 2009 , the company converted its stock administration system to a new service provider . in connection with this conversion , a reconciliation of the methodologies and estimates utilized was performed , which resulted in a $ 12 million reduction of expense for the year ended december 31 , 2009 . stock awards stock awards , in the form of rsus , are granted to certain employees and consist of both performance-based and service-based rsus . service-based awards generally vest between three and ten years from the date of grant . the fair value of service-based awards is based upon the market value of the underlying common stock at the date of grant . with certain limited exceptions , any break in continuous employment will cause the forfeiture of all unvested awards . compensation expense associated with stock awards is recognized over the service period . dividend equivalents are paid on certain service-based rsus , based on the initial grant amount . performance-based rsus have been granted to certain employees . vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period . the performance conditions are not considered in the determination of the grant date fair value for these awards . the fair value of performance-based awards is based upon the market price of the underlying common stock at the date of grant . compensation expense is recognized over the performance period , and in certain cases an additional vesting period , based on management 2019s estimate of the number of units expected to vest . compensation expense is adjusted to reflect the actual number of shares paid out at the end of the programs . the actual payout of shares under these performance- based plans may range from 0-200% ( 0-200 % ) of the number of units granted , based on the plan . dividend equivalents are generally not paid on the performance-based rsus . during 2010 , the company granted approximately 1.6 million shares in connection with the completion of the 2007 leadership performance plan ( 2018 2018lpp 2019 2019 ) cycle and 84000 shares related to other performance plans . during 2010 , 2009 and 2008 , the company granted approximately 3.5 million .
Question:
what is the percentage increase in rsus from 2009 to 2010?
Important information:
text_8: stock compensation plans the following table summarizes stock-based compensation expense recognized in continuing operations in the consolidated statements of income in compensation and benefits ( in millions ) : .
table_1: years ended december 31 the rsus of 2010 is $ 138 ; the rsus of 2009 is $ 124 ; the rsus of 2008 is $ 132 ;
text_18: vesting of these awards is contingent upon meeting various individual , divisional or company-wide performance conditions , including revenue generation or growth in revenue , pretax income or earnings per share over a one- to five-year period .
Reasoning Steps:
Step: minus2-1(138, 124) = 14
Step: divide2-2(#0, 124) = 11.3%
Program:
subtract(138, 124), divide(#0, 124)
Program (Nested):
divide(subtract(138, 124), 124)
| finqa642 |
what is the growth rate in net revenue for entergy texas , inc . in 2007?
Important information:
table_1: the 2006 net revenue of amount ( in millions ) is $ 403.3 ;
table_6: the base revenue of amount ( in millions ) is 2.6 ;
table_8: the 2007 net revenue of amount ( in millions ) is $ 442.3 ;
Reasoning Steps:
Step: minus1-1(442.3, 403.3) = 39
Step: divide1-2(#0, 403.3) = 9.7%
Program:
subtract(442.3, 403.3), divide(#0, 403.3)
Program (Nested):
divide(subtract(442.3, 403.3), 403.3)
| 0.0967 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy texas , inc . management's financial discussion and analysis fuel and purchased power expenses increased primarily due to an increase in power purchases as a result of the purchased power agreements between entergy gulf states louisiana and entergy texas and an increase in the average market prices of purchased power and natural gas , substantially offset by a decrease in deferred fuel expense as a result of decreased recovery from customers of fuel costs . other regulatory charges increased primarily due to an increase of $ 6.9 million in the recovery of bond expenses related to the securitization bonds . the recovery became effective july 2007 . see note 5 to the financial statements for additional information regarding the securitization bonds . 2007 compared to 2006 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 2007 to 2006 . amount ( in millions ) .
Table
| amount ( in millions )
2006 net revenue | $ 403.3
purchased power capacity | 13.1
securitization transition charge | 9.9
volume/weather | 9.7
transmission revenue | 6.1
base revenue | 2.6
other | -2.4 ( 2.4 )
2007 net revenue | $ 442.3
the purchased power capacity variance is due to changes in the purchased power capacity costs included in the calculation in 2007 compared to 2006 used to bill generation costs between entergy texas and entergy gulf states louisiana . the securitization transition charge variance is due to the issuance of securitization bonds . as discussed above , in june 2007 , egsrf i , a company wholly-owned and consolidated by entergy texas , issued securitization bonds and with the proceeds purchased from entergy texas the transition property , which is the right to recover from customers through a transition charge amounts sufficient to service the securitization bonds . see note 5 to the financial statements herein for details of the securitization bond issuance . the volume/weather variance is due to increased electricity usage on billed retail sales , including the effects of more favorable weather in 2007 compared to the same period in 2006 . the increase is also due to an increase in usage during the unbilled sales period . retail electricity usage increased a total of 139 gwh in all sectors . see "critical accounting estimates" below and note 1 to the financial statements for further discussion of the accounting for unbilled revenues . the transmission revenue variance is due to an increase in rates effective june 2007 and new transmission customers in late 2006 . the base revenue variance is due to the transition to competition rider that began in march 2006 . refer to note 2 to the financial statements for further discussion of the rate increase . gross operating revenues , fuel and purchased power expenses , and other regulatory charges gross operating revenues decreased primarily due to a decrease of $ 179 million in fuel cost recovery revenues due to lower fuel rates and fuel refunds . the decrease was partially offset by the $ 39 million increase in net revenue described above and an increase of $ 44 million in wholesale revenues , including $ 30 million from the system agreement cost equalization payments from entergy arkansas . the receipt of such payments is being .
Question:
what is the growth rate in net revenue for entergy texas , inc . in 2007?
Important information:
table_1: the 2006 net revenue of amount ( in millions ) is $ 403.3 ;
table_6: the base revenue of amount ( in millions ) is 2.6 ;
table_8: the 2007 net revenue of amount ( in millions ) is $ 442.3 ;
Reasoning Steps:
Step: minus1-1(442.3, 403.3) = 39
Step: divide1-2(#0, 403.3) = 9.7%
Program:
subtract(442.3, 403.3), divide(#0, 403.3)
Program (Nested):
divide(subtract(442.3, 403.3), 403.3)
| finqa643 |
what was the percent change in capital gain distributions between 2008 and 2009?
Important information:
text_17: the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .
table_2: the capital gain distributions received of 2008 is 5.6 ; the capital gain distributions received of 2009 is 2.0 ; the capital gain distributions received of change is -3.6 ( 3.6 ) ;
text_21: c a p i t a l r e s o u r c e s a n d l i q u i d i t y .
Reasoning Steps:
Step: minus1-1(2.9, 5.6) = -2.7
Step: divide1-2(#0, 5.6) = -0.48
Program:
subtract(2.9, 5.6), divide(#0, 5.6)
Program (Nested):
divide(subtract(2.9, 5.6), 5.6)
| -0.48214 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
investment advisory revenues earned on the other investment portfolios that we manage decreased $ 44 million , or 8.5% ( 8.5 % ) , to $ 477.8 million in 2009 . average assets in these portfolios were $ 129.5 billion during 2009 , down $ 12.6 billion or 9% ( 9 % ) from 2008 . other investment portfolio assets under management increased $ 46.7 billion during 2009 , including $ 36.5 billion in market gains and income and $ 10.2 billion of net inflows , primarily from institutional investors . net inflows include $ 1.3 billion transferred from the stock and blended asset mutual funds during 2009 . administrative fees decreased $ 35 million , or 10% ( 10 % ) , to $ 319 million in 2009 . this change includes a $ 4 million decrease in 12b-1 distribution and service fees recognized on lower average assets under management in the advisor and r classes of our sponsored mutual funds and a $ 31 million reduction in our mutual fund servicing revenue , which is primarily attributable to our cost reduction efforts in the mutual fund and retirement plan servicing functions . changes in administrative fees are generally offset by similar changes in related operating expenses that are incurred to provide services to the funds and their investors . our largest expense , compensation and related costs , decreased $ 42 million , or 5% ( 5 % ) , from 2008 to $ 773 million in 2009 . the largest part of this decrease is attributable to a $ 19 million reduction in our annual bonus program . reductions in the use of outside contractors lowered 2009 costs $ 14 million with the remainder of the cost savings primarily attributable to the workforce reduction and lower employee benefits and other employment expenses . average headcount in 2009 was down 5.4% ( 5.4 % ) from 2008 due to attrition , retirements and our workforce reduction in april 2009 . advertising and promotion expenditures were down $ 31 million , or 30% ( 30 % ) , versus 2008 due to our decision to reduce spending in response to lower investor activity in the 2009 market environment . depreciation expense and other occupancy and facility costs together increased $ 4 million , or 2.5% ( 2.5 % ) compared to 2008 , as we moderated or delayed our capital spending and facility growth plans . other operating expenses decreased $ 33 million , or 18% ( 18 % ) from 2008 , including a decline of $ 4 million in distribution and service expenses recognized on lower average assets under management in our advisor and r classes of mutual fund shares that are sourced from financial intermediaries . our cost control efforts resulted in the remaining expense reductions , including lower professional fees and travel and related costs . our non-operating investment activity resulted in net losses of $ 12.7 million in 2009 and $ 52.3 million in 2008 . the improvement of nearly $ 40 million is primarily attributable to a reduction in the other than temporary impairments recognized on our investments in sponsored mutual funds in 2009 versus 2008 . the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .
Table
| 2008 | 2009 | change
other than temporary impairments recognized | $ -91.3 ( 91.3 ) | $ -36.1 ( 36.1 ) | $ 55.2
capital gain distributions received | 5.6 | 2.0 | -3.6 ( 3.6 )
net gain ( loss ) realized on fund dispositions | -4.5 ( 4.5 ) | 7.4 | 11.9
net loss recognized on fund holdings | $ -90.2 ( 90.2 ) | $ -26.7 ( 26.7 ) | $ 63.5
lower income of $ 16 million from our money market holdings due to the significantly lower interest rate environment offset the improvement experienced with our fund investments . the 2009 provision for income taxes as a percentage of pretax income is 37.1% ( 37.1 % ) , down from 38.4% ( 38.4 % ) in 2008 . our 2009 provision includes reductions of prior years 2019 tax provisions and discrete nonrecurring benefits that lowered our 2009 effective tax rate by 1.0% ( 1.0 % ) . c a p i t a l r e s o u r c e s a n d l i q u i d i t y . during 2010 , stockholders 2019 equity increased from $ 2.9 billion to $ 3.3 billion . we repurchased nearly 5.0 million common shares for $ 240.0 million in 2010 . tangible book value is $ 2.6 billion at december 31 , 2010 , and our cash and cash equivalents and our mutual fund investment holdings total more than $ 1.5 billion . given the availability of these financial resources , we do not maintain an available external source of liquidity . t . rowe price group annual report 2010 .
Question:
what was the percent change in capital gain distributions between 2008 and 2009?
Important information:
text_17: the following table details our related mutual fund investment gains and losses ( in millions ) during the two years ended december 31 , 2009. .
table_2: the capital gain distributions received of 2008 is 5.6 ; the capital gain distributions received of 2009 is 2.0 ; the capital gain distributions received of change is -3.6 ( 3.6 ) ;
text_21: c a p i t a l r e s o u r c e s a n d l i q u i d i t y .
Reasoning Steps:
Step: minus1-1(2.9, 5.6) = -2.7
Step: divide1-2(#0, 5.6) = -0.48
Program:
subtract(2.9, 5.6), divide(#0, 5.6)
Program (Nested):
divide(subtract(2.9, 5.6), 5.6)
| finqa644 |
in 2017 , what percentage of undeveloped acres were located in africa?
Important information:
table_3: ( in thousands ) the other africa of net undeveloped acres expiring year ended december 31 , 2016 is 189 ; the other africa of net undeveloped acres expiring year ended december 31 , 2017 is 4352 ; the other africa of net undeveloped acres expiring year ended december 31 , 2018 is 854 ;
table_4: ( in thousands ) the total africa of net undeveloped acres expiring year ended december 31 , 2016 is 189 ; the total africa of net undeveloped acres expiring year ended december 31 , 2017 is 4444 ; the total africa of net undeveloped acres expiring year ended december 31 , 2018 is 890 ;
table_6: ( in thousands ) the total of net undeveloped acres expiring year ended december 31 , 2016 is 257 ; the total of net undeveloped acres expiring year ended december 31 , 2017 is 4533 ; the total of net undeveloped acres expiring year ended december 31 , 2018 is 1018 ;
Reasoning Steps:
Step: divide1-1(4444, 4533) = 98%
Program:
divide(4444, 4533)
Program (Nested):
divide(4444, 4533)
| 0.98037 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
in the ordinary course of business , based on our evaluations of certain geologic trends and prospective economics , we have allowed certain lease acreage to expire and may allow additional acreage to expire in the future . if production is not established or we take no other action to extend the terms of the leases , licenses or concessions , undeveloped acreage listed in the table below will expire over the next three years . we plan to continue the terms of certain of these licenses and concession areas or retain leases through operational or administrative actions ; however , the majority of the undeveloped acres associated with other africa as listed in the table below pertains to our licenses in ethiopia and kenya , for which we executed agreements in 2015 to sell . the kenya transaction closed in february 2016 and the ethiopia transaction is expected to close in the first quarter of 2016 . see item 8 . financial statements and supplementary data - note 5 to the consolidated financial statements for additional information about this disposition . net undeveloped acres expiring year ended december 31 .
Table
( in thousands ) | net undeveloped acres expiring year ended december 31 , 2016 | net undeveloped acres expiring year ended december 31 , 2017 | net undeveloped acres expiring year ended december 31 , 2018
u.s . | 68 | 89 | 128
e.g . | 2014 | 92 | 36
other africa | 189 | 4352 | 854
total africa | 189 | 4444 | 890
other international | 2014 | 2014 | 2014
total | 257 | 4533 | 1018
.
Question:
in 2017 , what percentage of undeveloped acres were located in africa?
Important information:
table_3: ( in thousands ) the other africa of net undeveloped acres expiring year ended december 31 , 2016 is 189 ; the other africa of net undeveloped acres expiring year ended december 31 , 2017 is 4352 ; the other africa of net undeveloped acres expiring year ended december 31 , 2018 is 854 ;
table_4: ( in thousands ) the total africa of net undeveloped acres expiring year ended december 31 , 2016 is 189 ; the total africa of net undeveloped acres expiring year ended december 31 , 2017 is 4444 ; the total africa of net undeveloped acres expiring year ended december 31 , 2018 is 890 ;
table_6: ( in thousands ) the total of net undeveloped acres expiring year ended december 31 , 2016 is 257 ; the total of net undeveloped acres expiring year ended december 31 , 2017 is 4533 ; the total of net undeveloped acres expiring year ended december 31 , 2018 is 1018 ;
Reasoning Steps:
Step: divide1-1(4444, 4533) = 98%
Program:
divide(4444, 4533)
Program (Nested):
divide(4444, 4533)
| finqa645 |
what was the average net revenue from 2010 to 2011
Important information:
text_6: amount ( in millions ) .
table_1: the 2010 net revenue of amount ( in millions ) is $ 540.2 ;
table_6: the 2011 net revenue of amount ( in millions ) is $ 577.8 ;
Reasoning Steps:
Step: add1-1(577.8, 540.2) = 1118
Step: add1-2(#0, const_2) = 1118.0
Step: divide0-0(#1, const_2) = 559
Program:
add(577.8, 540.2), add(#0, const_2), divide(#1, const_2)
Program (Nested):
divide(add(add(577.8, 540.2), const_2), const_2)
| 560.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy texas , inc . and subsidiaries management 2019s financial discussion and analysis plan to spin off the utility 2019s transmission business see the 201cplan to spin off the utility 2019s transmission business 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis for a discussion of this matter , including the planned retirement of debt and preferred securities . results of operations net income 2011 compared to 2010 net income increased by $ 14.6 million primarily due to higher net revenue , partially offset by higher taxes other than income taxes , higher other operation and maintenance expenses , and higher depreciation and amortization expenses . 2010 compared to 2009 net income increased by $ 2.4 million primarily due to higher net revenue and lower interest expense , partially offset by lower other income , higher taxes other than income taxes , and higher other operation and maintenance expenses . net revenue 2011 compared to 2010 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 ( credits ) . following is an analysis of the change in net revenue comparing 2011 to 2010 . amount ( in millions ) .
Table
| amount ( in millions )
2010 net revenue | $ 540.2
retail electric price | 36.0
volume/weather | 21.3
purchased power capacity | -24.6 ( 24.6 )
other | 4.9
2011 net revenue | $ 577.8
the retail electric price variance is primarily due to rate actions , including an annual base rate increase of $ 59 million beginning august 2010 , with an additional increase of $ 9 million beginning may 2011 , as a result of the settlement of the december 2009 rate case . see note 2 to the financial statements for further discussion of the rate case settlement . the volume/weather variance is primarily due to an increase of 721 gwh , or 4.5% ( 4.5 % ) , in billed electricity usage , including the effect of more favorable weather on residential and commercial sales compared to last year . usage in the industrial sector increased 8.2% ( 8.2 % ) primarily in the chemicals and refining industries . the purchased power capacity variance is primarily due to price increases for ongoing purchased power capacity and additional capacity purchases. .
Question:
what was the average net revenue from 2010 to 2011
Important information:
text_6: amount ( in millions ) .
table_1: the 2010 net revenue of amount ( in millions ) is $ 540.2 ;
table_6: the 2011 net revenue of amount ( in millions ) is $ 577.8 ;
Reasoning Steps:
Step: add1-1(577.8, 540.2) = 1118
Step: add1-2(#0, const_2) = 1118.0
Step: divide0-0(#1, const_2) = 559
Program:
add(577.8, 540.2), add(#0, const_2), divide(#1, const_2)
Program (Nested):
divide(add(add(577.8, 540.2), const_2), const_2)
| finqa646 |
how much higher is net revenue in 2017 than 2016 ? ( in millions )
Important information:
text_4: amount ( in millions ) .
table_1: the 2016 net revenue of amount ( in millions ) is $ 1520.5 ;
table_7: the 2017 net revenue of amount ( in millions ) is $ 1522.6 ;
Reasoning Steps:
Step: minus1-1(1522.6, 1520.5) = 2.1
Program:
subtract(1522.6, 1520.5)
Program (Nested):
subtract(1522.6, 1520.5)
| 2.1 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
entergy arkansas , inc . and subsidiaries management 2019s financial discussion and analysis results of operations net income 2017 compared to 2016 net income decreased $ 27.4 million primarily due to higher nuclear refueling outage expenses , higher depreciation and amortization expenses , higher taxes other than income taxes , and higher interest expense , partially offset by higher other income . 2016 compared to 2015 net income increased $ 92.9 million primarily due to higher net revenue and lower other operation and maintenance expenses , partially offset by a higher effective income tax rate and higher depreciation and amortization expenses . 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 ( credits ) . a0 a0following is an analysis of the change in net revenue comparing 2017 to 2016 . amount ( in millions ) .
Table
| amount ( in millions )
2016 net revenue | $ 1520.5
retail electric price | 33.8
opportunity sales | 5.6
asset retirement obligation | -14.8 ( 14.8 )
volume/weather | -29.0 ( 29.0 )
other | 6.5
2017 net revenue | $ 1522.6
the retail electric price variance is primarily due to the implementation of formula rate plan rates effective with the first billing cycle of january 2017 and an increase in base rates effective february 24 , 2016 , each as approved by the apsc . a significant portion of the base rate increase was related to the purchase of power block 2 of the union power station in march 2016 . the increase was partially offset by decreases in the energy efficiency rider , as approved by the apsc , effective april 2016 and january 2017 . see note 2 to the financial statements for further discussion of the rate case and formula rate plan filings . see note 14 to the financial statements for further discussion of the union power station purchase . the opportunity sales variance results from the estimated net revenue effect of the 2017 and 2016 ferc orders in the opportunity sales proceeding attributable to wholesale customers . see note 2 to the financial statements for further discussion of the opportunity sales proceeding. .
Question:
how much higher is net revenue in 2017 than 2016 ? ( in millions )
Important information:
text_4: amount ( in millions ) .
table_1: the 2016 net revenue of amount ( in millions ) is $ 1520.5 ;
table_7: the 2017 net revenue of amount ( in millions ) is $ 1522.6 ;
Reasoning Steps:
Step: minus1-1(1522.6, 1520.5) = 2.1
Program:
subtract(1522.6, 1520.5)
Program (Nested):
subtract(1522.6, 1520.5)
| finqa647 |
what percentage of total inventories is comprised of finished goods in 2008?
Important information:
table_2: the work in progress of 2008 is 100.0 ; the work in progress of 2007 is 94.6 ;
table_3: the finished goods of 2008 is 1179.1 ; the finished goods of 2007 is 1001.3 ;
table_5: the total of 2008 is $ 1931.5 ; the total of 2007 is $ 1625.1 ;
Reasoning Steps:
Step: divide2-1(1179.1, 1931.5) = 61%
Program:
divide(1179.1, 1931.5)
Program (Nested):
divide(1179.1, 1931.5)
| 0.61046 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
notes to consolidated financial statements 2014 ( continued ) fiscal years ended may 25 , 2008 , may 27 , 2007 , and may 28 , 2006 columnar amounts in millions except per share amounts administrative expenses , including the reclassification of the cumulative after-tax charges of $ 21.9 million from accumulated other comprehensive income . during fiscal 2007 , the company closed on the sale of these notes for approximately $ 117 million , net of transaction expenses , resulting in no additional gain or loss . 8 . inventories the major classes of inventories are as follows: .
Table
| 2008 | 2007
raw materials and packaging | $ 580.8 | $ 458.5
work in progress | 100.0 | 94.6
finished goods | 1179.1 | 1001.3
supplies and other | 71.6 | 70.7
total | $ 1931.5 | $ 1625.1
9 . credit facilities and borrowings at may 25 , 2008 , the company had credit lines from banks that totaled approximately $ 2.3 billion . these lines are comprised of a $ 1.5 billion multi-year revolving credit facility with a syndicate of financial institutions which matures in december 2011 , uncommitted short-term loan facilities approximating $ 364 million , and uncommitted trade finance facilities approximating $ 424 million . borrowings under the multi-year facility bear interest at or below prime rate and may be prepaid without penalty . the company has not drawn upon this multi- year facility . the uncommitted trade finance facilities mentioned above were maintained in order to finance certain working capital needs of the company 2019s trading and merchandising operations . subsequent to the sale of this business in june 2008 , the company exited these facilities . the company finances its short-term liquidity needs with bank borrowings , commercial paper borrowings , and bankers 2019 acceptances . as of may 25 , 2008 , the company had outstanding borrowings of $ 578.3 million , primarily under the commercial paper arrangements . the weighted average interest rate on these borrowings as of may 25 , 2008 was 2.76% ( 2.76 % ) . the average consolidated short-term borrowings outstanding under these facilities were $ 418.5 million and $ 4.3 million for fiscal 2008 and 2007 , respectively. .
Question:
what percentage of total inventories is comprised of finished goods in 2008?
Important information:
table_2: the work in progress of 2008 is 100.0 ; the work in progress of 2007 is 94.6 ;
table_3: the finished goods of 2008 is 1179.1 ; the finished goods of 2007 is 1001.3 ;
table_5: the total of 2008 is $ 1931.5 ; the total of 2007 is $ 1625.1 ;
Reasoning Steps:
Step: divide2-1(1179.1, 1931.5) = 61%
Program:
divide(1179.1, 1931.5)
Program (Nested):
divide(1179.1, 1931.5)
| finqa648 |
was the 2002 first quarter variance in high & low stock prices greater than the 2001 first quarter variance?
Important information:
table_0: 2002 first quarter the 2002 first quarter of high $ 17.84 is high $ 17.84 ; the 2002 first quarter of low $ 4.11 is low $ 4.11 ; the 2002 first quarter of 2001 first quarter is 2001 first quarter ; the 2002 first quarter of high $ 60.15 is high $ 60.15 ; the 2002 first quarter of low $ 41.30 is low $ 41.30 ;
table_1: 2002 first quarter the second quarter of high $ 17.84 is 9.17 ; the second quarter of low $ 4.11 is 3.55 ; the second quarter of 2001 first quarter is second quarter ; the second quarter of high $ 60.15 is 52.25 ; the second quarter of low $ 41.30 is 39.95 ;
table_3: 2002 first quarter the fourth quarter of high $ 17.84 is 3.57 ; the fourth quarter of low $ 4.11 is 0.95 ; the fourth quarter of 2001 first quarter is fourth quarter ; the fourth quarter of high $ 60.15 is 17.80 ; the fourth quarter of low $ 41.30 is 11.60 ;
Reasoning Steps:
Step: minus1-1(17.84, 4.11) = 13.73
Step: minus1-2(60.15, 41.30) = 18.85
Step: compare_larger1-3(#0, #1) = no
Program:
subtract(17.84, 4.11), subtract(60.15, 41.30), greater(#0, #1)
Program (Nested):
greater(subtract(17.84, 4.11), subtract(60.15, 41.30))
| no | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
part ii item 5 2014market for registrant 2019s common equity and related stockholder matters market information . the common stock of the company is currently traded on the new york stock exchange ( nyse ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for the common stock as reported by the nyse for the periods indicated . price range of common stock .
Table
2002 first quarter | high $ 17.84 | low $ 4.11 | 2001 first quarter | high $ 60.15 | low $ 41.30
second quarter | 9.17 | 3.55 | second quarter | 52.25 | 39.95
third quarter | 4.61 | 1.56 | third quarter | 44.50 | 12.00
fourth quarter | 3.57 | 0.95 | fourth quarter | 17.80 | 11.60
holders . as of march 3 , 2003 , there were 9663 record holders of the company 2019s common stock , par value $ 0.01 per share . dividends . under the terms of the company 2019s senior secured credit facilities entered into with a commercial bank syndicate , the company is not allowed to pay cash dividends . in addition , the company is precluded from paying cash dividends on its common stock under the terms of a guaranty to the utility customer in connection with the aes thames project in the event certain net worth and liquidity tests of the company are not met . the ability of the company 2019s project subsidiaries to declare and pay cash dividends to the company is subject to certain limitations in the project loans , governmental provisions and other agreements entered into by such project subsidiaries . securities authorized for issuance under equity compensation plans . see the information contained under the caption 2018 2018securities authorized for issuance under equity compensation plans 2019 2019 of the proxy statement for the annual meeting of stockholders of the registrant to be held on may 1 , 2003 , which information is incorporated herein by reference. .
Question:
was the 2002 first quarter variance in high & low stock prices greater than the 2001 first quarter variance?
Important information:
table_0: 2002 first quarter the 2002 first quarter of high $ 17.84 is high $ 17.84 ; the 2002 first quarter of low $ 4.11 is low $ 4.11 ; the 2002 first quarter of 2001 first quarter is 2001 first quarter ; the 2002 first quarter of high $ 60.15 is high $ 60.15 ; the 2002 first quarter of low $ 41.30 is low $ 41.30 ;
table_1: 2002 first quarter the second quarter of high $ 17.84 is 9.17 ; the second quarter of low $ 4.11 is 3.55 ; the second quarter of 2001 first quarter is second quarter ; the second quarter of high $ 60.15 is 52.25 ; the second quarter of low $ 41.30 is 39.95 ;
table_3: 2002 first quarter the fourth quarter of high $ 17.84 is 3.57 ; the fourth quarter of low $ 4.11 is 0.95 ; the fourth quarter of 2001 first quarter is fourth quarter ; the fourth quarter of high $ 60.15 is 17.80 ; the fourth quarter of low $ 41.30 is 11.60 ;
Reasoning Steps:
Step: minus1-1(17.84, 4.11) = 13.73
Step: minus1-2(60.15, 41.30) = 18.85
Step: compare_larger1-3(#0, #1) = no
Program:
subtract(17.84, 4.11), subtract(60.15, 41.30), greater(#0, #1)
Program (Nested):
greater(subtract(17.84, 4.11), subtract(60.15, 41.30))
| finqa649 |
what was the profit margin in 2014 for the aeronautics business segment
Important information:
table_1: the net sales of 2016 is $ 17769 ; the net sales of 2015 is $ 15570 ; the net sales of 2014 is $ 14920 ;
table_2: the operating profit of 2016 is 1887 ; the operating profit of 2015 is 1681 ; the operating profit of 2014 is 1649 ;
table_3: the operating margin of 2016 is 10.6% ( 10.6 % ) ; the operating margin of 2015 is 10.8% ( 10.8 % ) ; the operating margin of 2014 is 11.1% ( 11.1 % ) ;
Reasoning Steps:
Step: divide1-1(1649, 14920) = 11.1%
Program:
divide(1649, 14920)
Program (Nested):
divide(1649, 14920)
| 0.11052 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
$ 70 million . since that time , we have continued to experience issues related to customer requirements and the implementation of this contract and have periodically accrued additional reserves . consequently , we are continuing to monitor the scope , estimated costs , and viability of the program and the possibility of additional customer funding . it is possible that we may have to record additional loss reserves in future periods , which could be material to our operating results . however , we cannot make an estimate of the total expected costs at this time due to uncertainties inherent in the estimation process . our consolidated net adjustments not related to volume , including net profit booking rate adjustments and other matters , net of state income taxes , increased segment operating profit by approximately $ 1.5 billion , $ 1.7 billion and $ 1.6 billion for 2016 , 2015 and 2014 . the decrease in our consolidated net adjustments in 2016 compared to 2015 was primarily due to a decrease in profit booking rate adjustments at our mfc and space systems business segments , partially offset by an increase at our rms business segment . the increase in our consolidated net adjustments in 2015 compared to 2014 was primarily due to an increase in profit booking rate adjustments at our space systems and aeronautics business segments , offset by a decrease in profit booking rate adjustments at our rms and mfc business segments . the consolidated net adjustments for 2016 are inclusive of approximately $ 530 million in unfavorable items , which include reserves for performance matters on an international program at rms . the consolidated net adjustments for 2015 are inclusive of approximately $ 550 million in unfavorable items , which include reserves for performance matters on an international program at rms and on commercial satellite programs at space systems . the consolidated net adjustments for 2014 are inclusive of approximately $ 535 million in unfavorable items , which include reserves recorded on certain training and logistics solutions programs at rms and net warranty reserve adjustments for various programs ( including jassm and gmlrs ) at mfc as described in the respective business segment 2019s results of operations below . aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles and related technologies . aeronautics 2019 major programs include the f-35 lightning ii joint strike fighter , c-130 hercules , f-16 fighting falcon , c-5m super galaxy and f-22 raptor . aeronautics 2019 operating results included the following ( in millions ) : .
Table
| 2016 | 2015 | 2014
net sales | $ 17769 | $ 15570 | $ 14920
operating profit | 1887 | 1681 | 1649
operating margin | 10.6% ( 10.6 % ) | 10.8% ( 10.8 % ) | 11.1% ( 11.1 % )
backlog atyear-end | $ 34200 | $ 31800 | $ 27600
2016 compared to 2015 aeronautics 2019 net sales in 2016 increased $ 2.2 billion , or 14% ( 14 % ) , compared to 2015 . the increase was attributable to higher net sales of approximately $ 1.7 billion for the f-35 program due to increased volume on aircraft production and sustainment activities , partially offset by lower volume on development activities ; and approximately $ 290 million for the c-130 program due to increased deliveries ( 24 aircraft delivered in 2016 compared to 21 in 2015 ) and increased sustainment activities ; and approximately $ 250 million for the f-16 program primarily due to higher volume on aircraft modernization programs . the increases were partially offset by lower net sales of approximately $ 55 million for the c-5 program due to decreased sustainment activities . aeronautics 2019 operating profit in 2016 increased $ 206 million , or 12% ( 12 % ) , compared to 2015 . operating profit increased approximately $ 195 million for the f-35 program due to increased volume on aircraft production and sustainment activities and higher risk retirements ; and by approximately $ 60 million for aircraft support and maintenance programs due to higher risk retirements and increased volume . these increases were partially offset by lower operating profit of approximately $ 65 million for the c-130 program due to contract mix and lower risk retirements . adjustments not related to volume , including net profit booking rate adjustments , were approximately $ 20 million higher in 2016 compared to 2015 . 2015 compared to 2014 aeronautics 2019 net sales in 2015 increased $ 650 million , or 4% ( 4 % ) , compared to 2014 . the increase was attributable to higher net sales of approximately $ 1.4 billion for f-35 production contracts due to increased volume on aircraft production and sustainment activities ; and approximately $ 150 million for the c-5 program due to increased deliveries ( nine aircraft .
Question:
what was the profit margin in 2014 for the aeronautics business segment
Important information:
table_1: the net sales of 2016 is $ 17769 ; the net sales of 2015 is $ 15570 ; the net sales of 2014 is $ 14920 ;
table_2: the operating profit of 2016 is 1887 ; the operating profit of 2015 is 1681 ; the operating profit of 2014 is 1649 ;
table_3: the operating margin of 2016 is 10.6% ( 10.6 % ) ; the operating margin of 2015 is 10.8% ( 10.8 % ) ; the operating margin of 2014 is 11.1% ( 11.1 % ) ;
Reasoning Steps:
Step: divide1-1(1649, 14920) = 11.1%
Program:
divide(1649, 14920)
Program (Nested):
divide(1649, 14920)
| finqa650 |
what was the estimated total cost to replace the annuities the company was liable for in 2017
Important information:
text_10: the table below presents the estimated cost to replace all such annuities for which the company was contingently liable for the periods indicated: .
table_1: ( dollars in thousands ) the the prudential insurance company of america of at december 31 , 2017 is $ 144618 ; the the prudential insurance company of america of at december 31 , 2016 is $ 146507 ;
text_21: at december 31 , 2017 there were 346714 remaining shares available to be granted under the 2003 director plan. .
Reasoning Steps:
Step: add2-1(144618, 34444) = 179062
Program:
add(144618, 34444)
Program (Nested):
add(144618, 34444)
| 179062.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
15 . commitments and contingencies in the ordinary course of business , the company is involved in lawsuits , arbitrations and other formal and informal dispute resolution procedures , the outcomes of which will determine the company 2019s rights and obligations under insurance and reinsurance agreements . in some disputes , the company seeks to enforce its rights under an agreement or to collect funds owing to it . in other matters , the company is resisting attempts by others to collect funds or enforce alleged rights . these disputes arise from time to time and are ultimately resolved through both informal and formal means , including negotiated resolution , arbitration and litigation . in all such matters , the company believes that its positions are legally and commercially reasonable . the company considers the statuses of these proceedings when determining its reserves for unpaid loss and loss adjustment expenses . aside from litigation and arbitrations related to these insurance and reinsurance agreements , the company is not a party to any other material litigation or arbitration . the company has entered into separate annuity agreements with the prudential insurance of america ( 201cthe prudential 201d ) and an additional unaffiliated life insurance company in which the company has either purchased annuity contracts or become the assignee of annuity proceeds that are meant to settle claim payment obligations in the future . in both instances , the company would become contingently liable if either the prudential or the unaffiliated life insurance company were unable to make payments related to the respective annuity contract . the table below presents the estimated cost to replace all such annuities for which the company was contingently liable for the periods indicated: .
Table
( dollars in thousands ) | at december 31 , 2017 | at december 31 , 2016
the prudential insurance company of america | $ 144618 | $ 146507
unaffiliated life insurance company | 34444 | 33860
16 . share-based compensation plans the company has a 2010 stock incentive plan ( 201c2010 employee plan 201d ) , a 2009 non-employee director stock option and restricted stock plan ( 201c2009 director plan 201d ) and a 2003 non-employee director equity compensation plan ( 201c2003 director plan 201d ) . under the 2010 employee plan , 4000000 common shares have been authorized to be granted as non- qualified share options , incentive share options , share appreciation rights , restricted share awards or performance share unit awards to officers and key employees of the company . at december 31 , 2017 , there were 2553473 remaining shares available to be granted under the 2010 employee plan . the 2010 employee plan replaced a 2002 employee plan , which replaced a 1995 employee plan ; therefore , no further awards will be granted under the 2002 employee plan or the 1995 employee plan . through december 31 , 2017 , only non-qualified share options , restricted share awards and performance share unit awards had been granted under the employee plans . under the 2009 director plan , 37439 common shares have been authorized to be granted as share options or restricted share awards to non-employee directors of the company . at december 31 , 2017 , there were 34957 remaining shares available to be granted under the 2009 director plan . the 2009 director plan replaced a 1995 director plan , which expired . under the 2003 director plan , 500000 common shares have been authorized to be granted as share options or share awards to non-employee directors of the company . at december 31 , 2017 there were 346714 remaining shares available to be granted under the 2003 director plan. .
Question:
what was the estimated total cost to replace the annuities the company was liable for in 2017
Important information:
text_10: the table below presents the estimated cost to replace all such annuities for which the company was contingently liable for the periods indicated: .
table_1: ( dollars in thousands ) the the prudential insurance company of america of at december 31 , 2017 is $ 144618 ; the the prudential insurance company of america of at december 31 , 2016 is $ 146507 ;
text_21: at december 31 , 2017 there were 346714 remaining shares available to be granted under the 2003 director plan. .
Reasoning Steps:
Step: add2-1(144618, 34444) = 179062
Program:
add(144618, 34444)
Program (Nested):
add(144618, 34444)
| finqa651 |
what was the average pension service cost from 2016 to 2018 in millions
Important information:
table_1: ( millions of dollars ) the service cost of pension plans 2018 is $ 136 ; the service cost of pension plans 2017 is $ 110 ; the service cost of pension plans 2016 is $ 81 ;
table_7: ( millions of dollars ) the net pension cost of pension plans 2018 is $ 137 ; the net pension cost of pension plans 2017 is $ 138 ; the net pension cost of pension plans 2016 is $ 113 ;
table_8: ( millions of dollars ) the net pension cost included in the preceding table that is attributable to international plans of pension plans 2018 is $ 34 ; the net pension cost included in the preceding table that is attributable to international plans of pension plans 2017 is $ 43 ; the net pension cost included in the preceding table that is attributable to international plans of pension plans 2016 is $ 35 ;
Reasoning Steps:
Step: add1-1(136, 110) = 246
Step: add1-2(81, #0) = 327
Step: divide1-3(#1, const_3) = 109
Program:
add(136, 110), add(81, #0), divide(#1, const_3)
Program (Nested):
divide(add(81, add(136, 110)), const_3)
| 109.0 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
note 8 2014 benefit plans the company has defined benefit pension plans covering certain employees in the united states and certain international locations . postretirement healthcare and life insurance benefits provided to qualifying domestic retirees as well as other postretirement benefit plans in international countries are not material . the measurement date used for the company 2019s employee benefit plans is september 30 . effective january 1 , 2018 , the legacy u.s . pension plan was frozen to limit the participation of employees who are hired or re-hired by the company , or who transfer employment to the company , on or after january 1 , net pension cost for the years ended september 30 included the following components: .
Table
( millions of dollars ) | pension plans 2018 | pension plans 2017 | pension plans 2016
service cost | $ 136 | $ 110 | $ 81
interest cost | 90 | 61 | 72
expected return on plan assets | -154 ( 154 ) | -112 ( 112 ) | -109 ( 109 )
amortization of prior service credit | -13 ( 13 ) | -14 ( 14 ) | -15 ( 15 )
amortization of loss | 78 | 92 | 77
settlements | 2 | 2014 | 7
net pension cost | $ 137 | $ 138 | $ 113
net pension cost included in the preceding table that is attributable to international plans | $ 34 | $ 43 | $ 35
net pension cost included in the preceding table that is attributable to international plans $ 34 $ 43 $ 35 the amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in accumulated other comprehensive income ( loss ) in prior periods . the settlement losses recorded in 2018 and 2016 primarily included lump sum benefit payments associated with the company 2019s u.s . supplemental pension plan . the company recognizes pension settlements when payments from the supplemental plan exceed the sum of service and interest cost components of net periodic pension cost associated with this plan for the fiscal year. .
Question:
what was the average pension service cost from 2016 to 2018 in millions
Important information:
table_1: ( millions of dollars ) the service cost of pension plans 2018 is $ 136 ; the service cost of pension plans 2017 is $ 110 ; the service cost of pension plans 2016 is $ 81 ;
table_7: ( millions of dollars ) the net pension cost of pension plans 2018 is $ 137 ; the net pension cost of pension plans 2017 is $ 138 ; the net pension cost of pension plans 2016 is $ 113 ;
table_8: ( millions of dollars ) the net pension cost included in the preceding table that is attributable to international plans of pension plans 2018 is $ 34 ; the net pension cost included in the preceding table that is attributable to international plans of pension plans 2017 is $ 43 ; the net pension cost included in the preceding table that is attributable to international plans of pension plans 2016 is $ 35 ;
Reasoning Steps:
Step: add1-1(136, 110) = 246
Step: add1-2(81, #0) = 327
Step: divide1-3(#1, const_3) = 109
Program:
add(136, 110), add(81, #0), divide(#1, const_3)
Program (Nested):
divide(add(81, add(136, 110)), const_3)
| finqa652 |
what was the average catastrophe losses from 2008 to 2010 in millions
Important information:
text_0: the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated. .
table_2: the catastrophe losses and related reinstatement premiums of 2010 is ( 3.2 ) % ( % ) ; the catastrophe losses and related reinstatement premiums of 2009 is ( 1.2 ) % ( % ) ; the catastrophe losses and related reinstatement premiums of 2008 is ( 4.7 ) % ( % ) ;
text_1: we recorded net pre-tax catastrophe losses of $ 366 million in 2010 compared with net pre-tax catastrophe losses of $ 137 million and $ 567 million in 2009 and 2008 , respectively .
Key Information: the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated. .
Reasoning Steps:
Step: add2-1(366, 137) = 503
Step: add2-2(567, #0) = 1070
Step: divide2-3(#1, const_3) = 356.7
Program:
add(366, 137), add(567, #0), divide(#1, const_3)
Program (Nested):
divide(add(567, add(366, 137)), const_3)
| 356.66667 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated. .
Table
| 2010 | 2009 | 2008
loss and loss expense ratio as reported | 59.2% ( 59.2 % ) | 58.8% ( 58.8 % ) | 60.6% ( 60.6 % )
catastrophe losses and related reinstatement premiums | ( 3.2 ) % ( % ) | ( 1.2 ) % ( % ) | ( 4.7 ) % ( % )
prior period development | 4.6% ( 4.6 % ) | 4.9% ( 4.9 % ) | 6.8% ( 6.8 % )
large assumed loss portfolio transfers | ( 0.3 ) % ( % ) | ( 0.8 ) % ( % ) | 0.0% ( 0.0 % )
loss and loss expense ratio adjusted | 60.3% ( 60.3 % ) | 61.7% ( 61.7 % ) | 62.7% ( 62.7 % )
we recorded net pre-tax catastrophe losses of $ 366 million in 2010 compared with net pre-tax catastrophe losses of $ 137 million and $ 567 million in 2009 and 2008 , respectively . the catastrophe losses for 2010 were primarily related to weather- related events in the u.s. , earthquakes in chile , mexico , and new zealand , and storms in australia and europe . the catastrophe losses for 2009 were primarily related to an earthquake in asia , floods in europe , several weather-related events in the u.s. , and a european windstorm . for 2008 , the catastrophe losses were primarily related to hurricanes gustav and ike . prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premium from pre- vious accident years . we experienced $ 503 million of net favorable prior period development in our p&c segments in 2010 . this compares with net favorable prior period development in our p&c segments of $ 576 million and $ 814 million in 2009 and 2008 , respectively . refer to 201cprior period development 201d for more information . the adjusted loss and loss expense ratio declined in 2010 , compared with 2009 , primarily due to the impact of the crop settlements , non-recurring premium adjustment and the reduction in assumed loss portfolio business , which is written at higher loss ratios than other types of business . our policy acquisition costs include commissions , premium taxes , underwriting , and other costs that vary with , and are primarily related to , the production of premium . administrative expenses include all other operating costs . our policy acquis- ition cost ratio increased in 2010 , compared with 2009 . the increase was primarily related to the impact of crop settlements , which generated higher profit-share commissions and a lower adjustment to net premiums earned , as well as the impact of reinstatement premiums expensed in connection with catastrophe activity and changes in business mix . our administrative expense ratio increased in 2010 , primarily due to the impact of the crop settlements , reinstatement premiums expensed , and increased costs in our international operations . although the crop settlements generate minimal administrative expenses , they resulted in lower adjustment to net premiums earned in 2010 , compared with 2009 . administrative expenses in 2010 , were partially offset by higher net results generated by our third party claims administration business , esis , the results of which are included within our administrative expenses . esis generated $ 85 million in net results in 2010 , compared with $ 26 million in 2009 . the increase is primarily from non-recurring sources . our policy acquisition cost ratio was stable in 2009 , compared with 2008 , as increases in our combined insurance operations were offset by more favorable final crop year settlement of profit share commissions . administrative expenses increased in 2009 , primarily due to the inclusion of administrative expenses related to combined insurance for the full year and costs associated with new product expansion in our domestic retail operation and in our personal lines business . our effective income tax rate , which we calculate as income tax expense divided by income before income tax , is depend- ent upon the mix of earnings from different jurisdictions with various tax rates . a change in the geographic mix of earnings would change the effective income tax rate . our effective income tax rate was 15 percent in 2010 , compared with 17 percent and 24 percent in 2009 and 2008 , respectively . the decrease in our effective income tax rate in 2010 , was primarily due to a change in the mix of earnings to lower tax-paying jurisdictions , a decrease in the amount of unrecognized tax benefits which was the result of a settlement with the u.s . internal revenue service appeals division regarding federal tax returns for the years 2002-2004 , and the recognition of a non-taxable gain related to the acquisition of rain and hail . the 2009 year included a reduction of a deferred tax valuation allowance related to investments . for 2008 , our effective income tax rate was adversely impacted by a change in mix of earnings due to the impact of catastrophe losses in lower tax-paying jurisdictions . prior period development the favorable prior period development , inclusive of the life segment , of $ 512 million during 2010 was the net result of sev- eral underlying favorable and adverse movements . with respect to ace 2019s crop business , ace regularly receives reports from its managing general agent ( mga ) relating to the previous crop year ( s ) in subsequent calendar quarters and this typically results .
Question:
what was the average catastrophe losses from 2008 to 2010 in millions
Important information:
text_0: the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated. .
table_2: the catastrophe losses and related reinstatement premiums of 2010 is ( 3.2 ) % ( % ) ; the catastrophe losses and related reinstatement premiums of 2009 is ( 1.2 ) % ( % ) ; the catastrophe losses and related reinstatement premiums of 2008 is ( 4.7 ) % ( % ) ;
text_1: we recorded net pre-tax catastrophe losses of $ 366 million in 2010 compared with net pre-tax catastrophe losses of $ 137 million and $ 567 million in 2009 and 2008 , respectively .
Key Information: the following table shows the impact of catastrophe losses and related reinstatement premiums and the impact of prior period development on our consolidated loss and loss expense ratio for the periods indicated. .
Reasoning Steps:
Step: add2-1(366, 137) = 503
Step: add2-2(567, #0) = 1070
Step: divide2-3(#1, const_3) = 356.7
Program:
add(366, 137), add(567, #0), divide(#1, const_3)
Program (Nested):
divide(add(567, add(366, 137)), const_3)
| finqa653 |
considering the years 2013 and 2014 , what is the basis point variation observed in the operating margin?
Important information:
text_2: in 2014 , operating income margins in this segment were 21.0% ( 21.0 % ) , an increase of 120 basis points from 19.8% ( 19.8 % ) in 2013 .
table_2: years ended december 31 the operating income of 2014 is 485 ; the operating income of 2013 is 318 ; the operating income of 2012 is 289 ;
table_3: years ended december 31 the operating margin of 2014 is 11.4% ( 11.4 % ) ; the operating margin of 2013 is 7.8% ( 7.8 % ) ; the operating margin of 2012 is 7.4% ( 7.4 % ) ;
Reasoning Steps:
Step: minus2-1(11.4%, 7.8%) = 3.6%
Step: multiply2-2(#0, const_100) = 360
Program:
subtract(11.4%, 7.8%), multiply(#0, const_100)
Program (Nested):
multiply(subtract(11.4%, 7.8%), const_100)
| 3.6 | Please answer the following financial question based on the context provided. Make sure to give the answer in raw number, not in percentage and without any units. If the question asks for percentage the value should be less than 1
Context:
reinsurance commissions , fees and other revenue decreased 2% ( 2 % ) in 2014 reflecting a 1% ( 1 % ) unfavorable impact from foreign currency exchange rates and 1% ( 1 % ) decline in organic revenue growth due primarily to a significant unfavorable market impact in treaty , partially offset by net new business growth in treaty placements globally and growth in capital markets transactions and advisory business , as well as facultative placements . operating income operating income increased $ 108 million , or 7% ( 7 % ) , from 2013 to $ 1.6 billion in 2014 . in 2014 , operating income margins in this segment were 21.0% ( 21.0 % ) , an increase of 120 basis points from 19.8% ( 19.8 % ) in 2013 . operating margin improvement was driven by solid organic revenue growth , return on investments , expense discipline and savings related to the restructuring programs , partially offset by a $ 61 million unfavorable impact from foreign currency exchange rates . hr solutions .
Table
years ended december 31 | 2014 | 2013 | 2012
revenue | $ 4264 | $ 4057 | $ 3925
operating income | 485 | 318 | 289
operating margin | 11.4% ( 11.4 % ) | 7.8% ( 7.8 % ) | 7.4% ( 7.4 % )
our hr solutions segment generated approximately 35% ( 35 % ) of our consolidated total revenues in 2014 and provides a broad range of human capital services , as follows : 2022 retirement specializes in global actuarial services , defined contribution consulting , tax and erisa consulting , and pension administration . 2022 compensation focuses on compensatory advisory/counsel including : compensation planning design , executive reward strategies , salary survey and benchmarking , market share studies and sales force effectiveness , with special expertise in the financial services and technology industries . 2022 strategic human capital delivers advice to complex global organizations on talent , change and organizational effectiveness issues , including talent strategy and acquisition , executive on-boarding , performance management , leadership assessment and development , communication strategy , workforce training and change management . 2022 investment consulting advises public and private companies , other institutions and trustees on developing and maintaining investment programs across a broad range of plan types , including defined benefit plans , defined contribution plans , endowments and foundations . 2022 benefits administration applies our human resource expertise primarily through defined benefit ( pension ) , defined contribution ( 401 ( k ) ) , and health and welfare administrative services . our model replaces the resource-intensive processes once required to administer benefit plans with more efficient , effective , and less costly solutions . 2022 exchanges is building and operating healthcare exchanges that provide employers with a cost effective alternative to traditional employee and retiree healthcare , while helping individuals select the insurance that best meets their needs . 2022 human resource business processing outsourcing provides market-leading solutions to manage employee data ; administer benefits , payroll and other human resources processes ; and record and manage talent , workforce and other core human resource process transactions as well as other complementary services such as flexible spending , dependent audit and participant advocacy . disruption in the global credit markets and the deterioration of the financial markets created significant uncertainty in the marketplace . weak economic conditions in many markets around the globe continued throughout 2014 and have adversely impacted our clients' financial condition and therefore the levels of business activities in the industries and geographies where we operate . while we believe that the majority of our practices are well positioned to manage through this time , these challenges are reducing demand for some of our services and putting continued pressure on the pricing of those services , which is having an adverse effect on our new business and results of operations. .
Question:
considering the years 2013 and 2014 , what is the basis point variation observed in the operating margin?
Important information:
text_2: in 2014 , operating income margins in this segment were 21.0% ( 21.0 % ) , an increase of 120 basis points from 19.8% ( 19.8 % ) in 2013 .
table_2: years ended december 31 the operating income of 2014 is 485 ; the operating income of 2013 is 318 ; the operating income of 2012 is 289 ;
table_3: years ended december 31 the operating margin of 2014 is 11.4% ( 11.4 % ) ; the operating margin of 2013 is 7.8% ( 7.8 % ) ; the operating margin of 2012 is 7.4% ( 7.4 % ) ;
Reasoning Steps:
Step: minus2-1(11.4%, 7.8%) = 3.6%
Step: multiply2-2(#0, const_100) = 360
Program:
subtract(11.4%, 7.8%), multiply(#0, const_100)
Program (Nested):
multiply(subtract(11.4%, 7.8%), const_100)
| finqa654 |
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