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[ "american tower corporation and subsidiaries notes to consolidated financial statements as of december 31 , 2010 and 2009 , the company had $ 295.4 million and $ 295.0 million net , respectively ( $ 300.0 million aggregate principal amount ) outstanding under the 7.25% ( 7.25 % ) notes .", "as of december 31 , 2010 and 2009 , the carrying value includes a discount of $ 4.6 million and $ 5.0 million , respectively .", "5.0% ( 5.0 % ) convertible notes 2014the 5.0% ( 5.0 % ) convertible notes due 2010 ( 201c5.0% ( 201c5.0 % ) notes 201d ) matured on february 15 , 2010 , and interest was payable semiannually on february 15 and august 15 of each year .", "the 5.0% ( 5.0 % ) notes were convertible at any time into shares of the company 2019s class a common stock ( 201ccommon stock 201d ) at a conversion price of $ 51.50 per share , subject to adjustment in certain cases .", "as of december 31 , 2010 and 2009 , the company had none and $ 59.7 million outstanding , respectively , under the 5.0% ( 5.0 % ) notes .", "ati 7.25% ( 7.25 % ) senior subordinated notes 2014the ati 7.25% ( 7.25 % ) notes were issued with a maturity of december 1 , 2011 and interest was payable semi-annually in arrears on june 1 and december 1 of each year .", "the ati 7.25% ( 7.25 % ) notes were jointly and severally guaranteed on a senior subordinated basis by the company and substantially all of the wholly owned domestic restricted subsidiaries of ati and the company , other than spectrasite and its subsidiaries .", "the notes ranked junior in right of payment to all existing and future senior indebtedness of ati , the sister guarantors ( as defined in the indenture relating to the notes ) and their domestic restricted subsidiaries .", "the ati 7.25% ( 7.25 % ) notes were structurally senior in right of payment to all other existing and future indebtedness of the company , including the company 2019s senior notes , convertible notes and the revolving credit facility and term loan .", "during the year ended december 31 , 2010 , ati issued a notice for the redemption of the principal amount of its outstanding ati 7.25% ( 7.25 % ) notes .", "in accordance with the redemption provisions and the indenture for the ati 7.25% ( 7.25 % ) notes , the notes were redeemed at a price equal to 100.00% ( 100.00 % ) of the principal amount , plus accrued and unpaid interest up to , but excluding , september 23 , 2010 , for an aggregate purchase price of $ 0.3 million .", "as of december 31 , 2010 and 2009 , the company had none and $ 0.3 million , respectively , outstanding under the ati 7.25% ( 7.25 % ) notes .", "capital lease obligations and notes payable 2014the company 2019s capital lease obligations and notes payable approximated $ 46.3 million and $ 59.0 million as of december 31 , 2010 and 2009 , respectively .", "these obligations bear interest at rates ranging from 2.5% ( 2.5 % ) to 9.3% ( 9.3 % ) and mature in periods ranging from less than one year to approximately seventy years .", "maturities 2014as of december 31 , 2010 , aggregate carrying value of long-term debt , including capital leases , for the next five years and thereafter are estimated to be ( in thousands ) : year ending december 31 ." ]

[ "2011 the total cash obligations of $ 74896 is 5594224 ;" ]

[ [ "2011", "$ 74896" ], [ "2012", "625884" ], [ "2013", "618" ], [ "2014", "1750479" ], [ "2015", "600489" ], [ "thereafter", "2541858" ], [ "total cash obligations", "5594224" ], [ "unamortized discounts and premiums net", "-6836 ( 6836 )" ], [ "balance as of december 31 2010", "$ 5587388" ] ]

[ "receivables from customers and other ( b ) 26744 23648 2014 2014 total wholesale credit- related assets 414067 411814 1459 1956 lending-related commitments 446232 434814 206 355 total wholesale credit exposure $ 860299 $ 846628 $ 1665 $ 2311 credit portfolio management derivatives notional , net ( c ) $ ( 27996 ) $ ( 27447 ) $ ( 5 ) $ ( 25 ) liquid securities and other cash collateral held against derivatives ( 14435 ) ( 15201 ) na na ( a ) during 2013 , certain loans that resulted from restructurings that were previously classified as performing were reclassified as nonperforming loans .", "prior periods were revised to conform with the current presentation .", "( b ) receivables from customers and other primarily includes margin loans to prime and retail brokerage customers ; these are classified in accrued interest and accounts receivable on the consolidated balance sheets .", "( c ) represents the net notional amount of protection purchased and sold through credit derivatives used to manage both performing and nonperforming wholesale credit exposures ; these derivatives do not qualify for hedge accounting under u.s .", "gaap .", "excludes the synthetic credit portfolio .", "for additional information , see credit derivatives on pages 137 2013138 , and note 6 on pages 220 2013233 of this annual report .", "( d ) excludes assets acquired in loan satisfactions. ." ]

[ "management 2019s discussion and analysis 130 jpmorgan chase & co./2013 annual report wholesale credit portfolio the wholesale credit environment remained favorable throughout 2013 driving an increase in commercial client activity .", "discipline in underwriting across all areas of lending continues to remain a key point of focus , consistent with evolving market conditions and the firm 2019s risk management activities .", "the wholesale portfolio is actively managed , in part by conducting ongoing , in-depth reviews of credit quality and of industry , product and client concentrations .", "during the year , wholesale criticized assets and nonperforming assets decreased from higher levels experienced in 2012 , including a reduction in nonaccrual loans by 39% ( 39 % ) .", "as of december 31 , 2013 , wholesale exposure ( primarily cib , cb and am ) increased by $ 13.7 billion from december 31 , 2012 , primarily driven by increases of $ 11.4 billion in lending-related commitments and $ 8.4 billion in loans reflecting increased client activity primarily in cb and am .", "these increases were partially offset by a $ 9.2 billion decrease in derivative receivables .", "derivative receivables decreased predominantly due to reductions in interest rate derivatives driven by an increase in interest rates and reductions in commodity derivatives due to market movements .", "the decreases were partially offset by an increase in equity derivatives driven by a rise in equity markets .", "wholesale credit portfolio december 31 , credit exposure nonperforming ( d ) ." ]

[ "december 31 , ( in millions ) the loans 2013 reported of december 31 , 2013 is 321564 ; the loans 2013 reported of december 31 , 2012 is 313183 ; the loans 2013 reported of 2013 is 1044 ; the loans 2013 reported of 2012 is 1717 ;" ]

[ [ "december 31 , ( in millions )", "december 31 , 2013", "december 31 , 2012", "2013", "2012" ], [ "loans retained", "$ 308263", "$ 306222", "$ 821", "$ 1434" ], [ "loans held-for-sale", "11290", "4406", "26", "18" ], [ "loans at fair value ( a )", "2011", "2555", "197", "265" ], [ "loans 2013 reported", "321564", "313183", "1044", "1717" ], [ "derivative receivables", "65759", "74983", "415", "239" ], [ "receivables from customers and other ( b )", "26744", "23648", "2014", "2014" ], [ "total wholesale credit-related assets", "414067", "411814", "1459", "1956" ], [ "lending-related commitments", "446232", "434814", "206", "355" ], [ "total wholesale credit exposure", "$ 860299", "$ 846628", "$ 1665", "$ 2311" ], [ "credit portfolio management derivatives notional net ( c )", "$ -27996 ( 27996 )", "$ -27447 ( 27447 )", "$ -5 ( 5 )", "$ -25 ( 25 )" ], [ "liquid securities and other cash collateral held against derivatives", "-14435 ( 14435 )", "-15201 ( 15201 )", "na", "na" ] ]

[ "( a ) includes the u.s. , canada , and latin america .", "( b ) includes australia , china , japan , the philippines , and thailand .", "in addition , chaps-branded products distributed by our wholesale segment were sold domestically through approximately 2800 doors as of march 29 , 2014 .", "we have three key wholesale customers that generate significant sales volume .", "for fiscal 2014 , these customers in the aggregate accounted for approximately 50% ( 50 % ) of our total wholesale revenues , with macy's , inc .", "( \"macy's\" ) representing approximately 25% ( 25 % ) of our total wholesale revenues .", "our products are sold primarily through our own sales forces .", "our wholesale segment maintains its primary showrooms in new york city .", "in addition , we maintain regional showrooms in milan , paris , london , munich , madrid , stockholm , and panama .", "shop-within-shops .", "as a critical element of our distribution to department stores , we and our licensing partners utilize shop-within-shops to enhance brand recognition , to permit more complete merchandising of our lines by the department stores , and to differentiate the presentation of our products .", "as of march 29 , 2014 , we had approximately 22000 shop-within-shops in our primary channels of distribution dedicated to our ralph lauren-branded wholesale products worldwide .", "the size of our shop-within-shops ranges from approximately 100 to 9200 square feet .", "shop-within-shop fixed assets primarily include items such as customized freestanding fixtures , wall cases ." ]

[ "our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores , and golf and pro shops , both domestically and internationally .", "we have continued to focus on elevating our brand by improving in- store product assortment and presentation , as well as full-price sell-throughs to consumers .", "as of the end of fiscal 2014 , our ralph lauren-branded products were sold through over 11000 doors worldwide and we invested $ 53 million of capital in related shop- within-shops primarily in domestic and international department and specialty stores .", "our products are also sold through the e- commerce sites of certain of our wholesale customers .", "the primary product offerings sold through our wholesale channels of distribution include menswear , womenswear , childrenswear , accessories , and home furnishings .", "our collection brands 2014 ralph lauren women's collection and black label and men's purple label and black label 2014 are distributed worldwide through a limited number of premier fashion retailers .", "department stores are our major wholesale customers in north america .", "in latin america , our wholesale products are sold in department stores and specialty stores .", "in europe , our wholesale sales are a varying mix of sales to both department stores and specialty stores , depending on the country .", "in japan , our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores , and the mix of business is weighted to men's and women's blue label .", "in the greater china and southeast asia region and australia , our wholesale products are sold mainly at mid and top-tier department stores , and the mix of business is primarily weighted to men's and women's blue label .", "we also distribute product to certain licensed stores operated by our partners in latin america , europe , and asia .", "in addition , our club monaco products are distributed through select department stores and specialty stores in europe .", "we sell the majority of our excess and out-of-season products through secondary distribution channels worldwide , including our retail factory stores .", "worldwide distribution channels the following table presents the number of doors by geographic location in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of march 29 , 2014: ." ]

[ "location the the americas ( a ) of number of doors is 6459 ;", "location the total of number of doors is 11453 ;" ]

[ [ "location", "number of doors" ], [ "the americas ( a )", "6459" ], [ "europe", "4864" ], [ "asia ( b )", "130" ], [ "total", "11453" ] ]

[ "( 1 ) amount for 2009 excludes agreements related to the commercial paper conduits , which were consolidated in may 2009 ; see note 11 .", "approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue .", "since many of these commitments are expected to expire or renew without being drawn upon , the total commitment amount does not necessarily represent future cash requirements .", "securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .", "we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .", "collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .", "we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .", "the borrowed securities are revalued daily to determine if additional collateral is necessary .", "in this regard , we held , as agent , cash and u.s .", "government securities with an aggregate fair value of $ 375.92 billion and $ 333.07 billion as collateral for indemnified securities on loan at december 31 , 2009 and 2008 , respectively , presented in the table above .", "the collateral held by us is invested on behalf of our customers in accordance with their guidelines .", "in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested .", "we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .", "the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition .", "of the collateral of $ 375.92 billion at december 31 , 2009 and $ 333.07 billion at december 31 , 2008 referenced above , $ 77.73 billion at december 31 , 2009 and $ 68.37 billion at december 31 , 2008 was invested in indemnified repurchase agreements .", "we held , as agent , cash and securities with an aggregate fair value of $ 82.62 billion and $ 71.87 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2009 and december 31 , 2008 , respectively .", "legal proceedings : in the ordinary course of business , we and our subsidiaries are involved in disputes , litigation and regulatory inquiries and investigations , both pending and threatened .", "these matters , if resolved adversely against us , may result in monetary damages , fines and penalties or require changes in our business practices .", "the resolution of these proceedings is inherently difficult to predict .", "however , we do not believe that the amount of any judgment , settlement or other action arising from any pending proceeding will have a material adverse effect on our consolidated financial condition , although the outcome of certain of the matters described below may have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved ." ]

[ "note 10 .", "commitments and contingencies credit-related commitments and contingencies : credit-related financial instruments , which are off-balance sheet , include indemnified securities financing , unfunded commitments to extend credit or purchase assets , and standby letters of credit .", "the potential loss associated with indemnified securities financing , unfunded commitments and standby letters of credit is equal to the total gross contractual amount , which does not consider the value of any collateral .", "the following table summarizes the total gross contractual amounts of credit-related off-balance sheet financial instruments at december 31 .", "amounts reported do not reflect participations to independent third parties. ." ]

[ "in this regard , we held , as agent , cash and u.s .", "government securities with an aggregate fair value of $ 375.92 billion and $ 333.07 billion as collateral for indemnified securities on loan at december 31 , 2009 and 2008 , respectively , presented in the table above ." ]

[ [ "( in millions )", "2009", "2008" ], [ "indemnified securities financing", "$ 365251", "$ 324590" ], [ "asset purchase agreements ( 1 )", "8211", "31780" ], [ "unfunded commitments to extend credit", "18078", "20981" ], [ "standby letters of credit", "4784", "6061" ] ]

[ "( 1 ) the weighted-average market value of the vestings during 2009 was approximately $ 3.64 per share .", "at december 31 , 2009 , there was $ 1.6 billion of total unrecognized compensation cost related to unvested stock awards net of the forfeiture provision .", "that cost is expected to be recognized over a weighted-average period of 1.3 years. ." ]

[ "shares of citigroup common stock .", "the number of shares to be delivered will equal the cse award value divided by the then fair market value of the common stock .", "for cses awarded to certain employees whose compensation structure was approved by the special master , 50% ( 50 % ) of the shares to be delivered in april 2010 will be subject to restrictions on sale and transfer until january 20 , 2011 .", "in lieu of 2010 cap awards , certain retirement-eligible employees were instead awarded cses payable in april 2010 , but any shares that are to be delivered in april 2010 ( subject to stockholder approval ) will be subject to restrictions on sale or transfer that will lapse in four equal annual installments beginning january 20 , 2011 .", "cse awards have generally been accrued as compensation expenses in the year 2009 and will be recorded as a liability from the january 2010 grant date until the settlement date in april 2010 .", "if stockholders approve delivery of citigroup stock for the cse awards , cse awards will likely be paid as new issues of common stock as an exception to the company 2019s practice of delivering shares from treasury stock , and the recorded liability will be reclassified as equity at that time .", "in january 2009 , members of the management executive committee ( except the ceo and cfo ) received 30% ( 30 % ) of their incentive awards for 2008 as performance vesting-equity awards .", "these awards vest 50% ( 50 % ) if the price of citigroup common stock meets a price target of $ 10.61 , and 50% ( 50 % ) for a price target of $ 17.85 , in each case on or prior to january 14 , 2013 .", "the price target will be met only if the nyse closing price equals or exceeds the applicable price target for at least 20 nyse trading days within any period of 30 consecutive nyse trading days ending on or before january 14 , 2013 .", "any shares that have not vested by such date will vest according to a fraction , the numerator of which is the share price on the delivery date and the denominator of which is the price target of the unvested shares .", "no dividend equivalents are paid on unvested awards .", "fair value of the awards is recognized as compensation expense ratably over the vesting period .", "on july 17 , 2007 , the committee approved the management committee long-term incentive plan ( mc ltip ) ( pursuant to the terms of the shareholder-approved 1999 stock incentive plan ) under which participants received an equity award that could be earned based on citigroup 2019s performance against various metrics relative to peer companies and publicly- stated return on equity ( roe ) targets measured at the end of each calendar year beginning with 2007 .", "the final expense for each of the three consecutive calendar years was adjusted based on the results of the roe tests .", "no awards were earned for 2009 , 2008 or 2007 and no shares were issued because performance targets were not met .", "no new awards were made under the mc ltip since the initial award in july 2007 .", "cap participants in 2008 , 2007 , 2006 and 2005 , and fa cap participants in those years and in 2009 , could elect to receive all or part of their award in stock options .", "the figures presented in the stock option program tables ( see 201cstock option programs 201d below ) include options granted in lieu of cap and fa cap stock awards in those years .", "a summary of the status of citigroup 2019s unvested stock awards at december 31 , 2009 and changes during the 12 months ended december 31 , 2009 are presented below : unvested stock awards shares weighted-average grant date fair value ." ]

[ "at december 31 , 2009 , there was $ 1.6 billion of total unrecognized compensation cost related to unvested stock awards net of the forfeiture provision .", "that cost is expected to be recognized over a weighted-average period of 1.3 years. ." ]

[ [ "unvested stock awards", "shares", "weighted-average grant date fair value" ], [ "unvested at january 1 2009", "226210859", "$ 36.23" ], [ "new awards", "162193923", "$ 4.35" ], [ "cancelled awards", "-51873773 ( 51873773 )", "$ 26.59" ], [ "deleted awards", "-568377 ( 568377 )", "$ 13.91" ], [ "vested awards ( 1 )", "-148011884 ( 148011884 )", "$ 25.96" ], [ "unvested at december 31 2009", "187950748", "$ 19.53" ] ]

[ "liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .", "we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs .", "we continue to maintain a disciplined approach to managing liquidity , with flexibility over significant uses of cash , including our capital expenditures , cash used for new acquisitions , our common stock repurchase program and our common stock dividends. ." ]

[ "management 2019s discussion and analysis of financial condition and results of operations 2013 ( continued ) ( amounts in millions , except per share amounts ) net cash used in investing activities during 2012 primarily related to payments for capital expenditures and acquisitions , partially offset by the net proceeds of $ 94.8 received from the sale of our remaining holdings in facebook .", "capital expenditures of $ 169.2 primarily related to computer hardware and software , and leasehold improvements .", "capital expenditures increased in 2012 compared to the prior year , primarily due to an increase in leasehold improvements made during the year .", "payments for acquisitions of $ 145.5 primarily related to payments for new acquisitions .", "financing activities net cash used in financing activities during 2013 primarily related to the purchase of long-term debt , the repurchase of our common stock , and payment of dividends .", "we redeemed all $ 600.0 in aggregate principal amount of our 10.00% ( 10.00 % ) notes .", "in addition , we repurchased 31.8 shares of our common stock for an aggregate cost of $ 481.8 , including fees , and made dividend payments of $ 126.0 on our common stock .", "net cash provided by financing activities during 2012 primarily reflected net proceeds from our debt transactions .", "we issued $ 300.0 in aggregate principal amount of 2.25% ( 2.25 % ) senior notes due 2017 ( the 201c2.25% ( 201c2.25 % ) notes 201d ) , $ 500.0 in aggregate principal amount of 3.75% ( 3.75 % ) senior notes due 2023 ( the 201c3.75% ( 201c3.75 % ) notes 201d ) and $ 250.0 in aggregate principal amount of 4.00% ( 4.00 % ) senior notes due 2022 ( the 201c4.00% ( 201c4.00 % ) notes 201d ) .", "the proceeds from the issuance of the 4.00% ( 4.00 % ) notes were applied towards the repurchase and redemption of $ 399.6 in aggregate principal amount of our 4.25% ( 4.25 % ) notes .", "offsetting the net proceeds from our debt transactions was the repurchase of 32.7 shares of our common stock for an aggregate cost of $ 350.5 , including fees , and dividend payments of $ 103.4 on our common stock .", "foreign exchange rate changes the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 94.1 in 2013 .", "the decrease was primarily a result of the u.s .", "dollar being stronger than several foreign currencies , including the australian dollar , brazilian real , japanese yen , canadian dollar and south african rand as of december 31 , 2013 compared to december 31 , 2012 .", "the effect of foreign exchange rate changes on cash and cash equivalents included in the consolidated statements of cash flows resulted in a decrease of $ 6.2 in 2012 .", "the decrease was a result of the u.s .", "dollar being stronger than several foreign currencies , including the brazilian real and south african rand , offset by the u.s .", "dollar being weaker than other foreign currencies , including the australian dollar , british pound and the euro , as of as of december 31 , 2012 compared to december 31 , 2011. ." ]

[ "balance sheet data the cash cash equivalents and marketable securities of december 31 , 2013 is $ 1642.1 ; the cash cash equivalents and marketable securities of december 31 , 2012 is $ 2590.8 ;", "liquidity outlook we expect our cash flow from operations , cash and cash equivalents to be sufficient to meet our anticipated operating requirements at a minimum for the next twelve months .", "we also have a committed corporate credit facility as well as uncommitted facilities available to support our operating needs ." ]

[ [ "balance sheet data", "december 31 , 2013", "december 31 , 2012" ], [ "cash cash equivalents and marketable securities", "$ 1642.1", "$ 2590.8" ], [ "short-term borrowings", "$ 179.1", "$ 172.1" ], [ "current portion of long-term debt", "353.6", "216.6" ], [ "long-term debt", "1129.8", "2060.8" ], [ "total debt", "$ 1662.5", "$ 2449.5" ] ]

[ "in fiscal 2018 , cash provided by operations was $ 2.8 billion compared to $ 2.4 billion in fiscal 2017 .", "the $ 426 million increase was primarily driven by the $ 462 million increase in net earnings and the $ 736 million change in current assets and liabilities , partially offset by a $ 688 million change in deferred income taxes .", "the change in deferred income taxes was primarily related to the $ 638 million provisional benefit from revaluing our net u.s .", "deferred tax liabilities to reflect the new u.s .", "corporate tax rate as a result of the tcja .", "the $ 736 million change in current assets and liabilities was primarily due to changes in accounts payable of $ 476 million related to the extension of payment terms and timing of payments , and $ 264 million of changes in other current liabilities primarily driven by changes in income taxes payable , trade and advertising accruals , and incentive accruals .", "we strive to grow core working capital at or below the rate of growth in our net sales .", "for fiscal 2018 , core working capital decreased 27 percent , compared to a net sales increase of 1 percent .", "in fiscal 2017 , core working capital increased 9 percent , compared to a net sales decline of 6 percent , and in fiscal 2016 , core working capital decreased 41 percent , compared to net sales decline of 6 percent .", "in fiscal 2017 , our operations generated $ 2.4 billion of cash , compared to $ 2.8 billion in fiscal 2016 .", "the $ 349 million decrease was primarily driven by a $ 493 million change in current assets and liabilities .", "the $ 493 million change in current assets and liabilities was primarily due to changes in other current liabilities driven by changes in income taxes payable , a decrease in incentive accruals , and changes in trade and advertising accruals due to reduced spending .", "the change in current assets and liabilities was also impacted by the timing of accounts payable .", "additionally , we recorded a $ 14 million loss on a divestiture during fiscal 2017 , compared to a $ 148 million net gain on divestitures during fiscal 2016 , and classified the related cash flows as investing activities. ." ]

[ "cash flows from operations ." ]

[ "in millions the net earnings including earnings attributable to redeemable and noncontrollinginterests of fiscal year 2018 is $ 2163.0 ; the net earnings including earnings attributable to redeemable and noncontrollinginterests of fiscal year 2017 is $ 1701.1 ; the net earnings including earnings attributable to redeemable and noncontrollinginterests of fiscal year 2016 is $ 1736.8 ;" ]

[ [ "in millions", "fiscal year 2018", "fiscal year 2017", "fiscal year 2016" ], [ "net earnings including earnings attributable to redeemable and noncontrollinginterests", "$ 2163.0", "$ 1701.1", "$ 1736.8" ], [ "depreciation and amortization", "618.8", "603.6", "608.1" ], [ "after-taxearnings from joint ventures", "-84.7 ( 84.7 )", "-85.0 ( 85.0 )", "-88.4 ( 88.4 )" ], [ "distributions of earnings from joint ventures", "113.2", "75.6", "75.1" ], [ "stock-based compensation", "77.0", "95.7", "89.8" ], [ "deferred income taxes", "-504.3 ( 504.3 )", "183.9", "120.6" ], [ "pension and other postretirement benefit plan contributions", "-31.8 ( 31.8 )", "-45.4 ( 45.4 )", "-47.8 ( 47.8 )" ], [ "pension and other postretirement benefit plan costs", "4.6", "35.7", "118.1" ], [ "divestitures loss ( gain )", "-", "13.5", "-148.2 ( 148.2 )" ], [ "restructuring impairment and other exit costs", "126.0", "117.0", "107.2" ], [ "changes in current assets and liabilities excluding the effects of acquisitions anddivestitures", "542.1", "-194.2 ( 194.2 )", "298.5" ], [ "other net", "-182.9 ( 182.9 )", "-86.3 ( 86.3 )", "-105.6 ( 105.6 )" ], [ "net cash provided by operating activities", "$ 2841.0", "$ 2415.2", "$ 2764.2" ] ]

[ "the company implemented a plan to restructure certain of aeg 2019s historical activities .", "the company originally recorded a liability of approximately $ 2100 in accordance with eitf issue no .", "95-3 , recognition of liabilities in connection with a purchase business combination , related to the termination of certain employees under this plan .", "upon completion of the plan in fiscal 2007 the company reduced this liability by approximately $ 241 with a corresponding reduction in goodwill .", "all amounts have been paid as of september 29 , 2007 .", "as part of the aeg acquisition the company acquired a minority interest in the equity securities of a private german company .", "the company estimated the fair value of these securities to be approximately $ 1400 in its original purchase price allocation .", "during the year ended september 29 , 2007 , the company sold these securities for proceeds of approximately $ 2150 .", "the difference of approximately $ 750 between the preliminary fair value estimate and proceeds upon sale has been recorded as a reduction of goodwill .", "the final purchase price allocations were completed within one year of the acquisition and the adjustments did not have a material impact on the company 2019s financial position or results of operations .", "there have been no other material changes to the purchase price allocation as disclosed in the company 2019s form 10-k for the year ended september 30 , 2006 .", "as part of the purchase price allocation , all intangible assets that were a part of the acquisition were identified and valued .", "it was determined that only customer relationship , trade name , developed technology and know how and in-process research and development had separately identifiable values .", "the fair value of these intangible assets was determined through the application of the income approach .", "customer relationship represents aeg 2019s high dependency on a small number of large accounts .", "aeg markets its products through distributors as well as directly to its own customers .", "trade name represents aeg 2019s product names that the company intends to continue to use .", "developed technology and know how represents currently marketable ." ]

[ "hologic , inc .", "notes to consolidated financial statements ( continued ) ( in thousands , except per share data ) its supply chain and improve manufacturing margins .", "the combination of the companies should also facilitate further manufacturing efficiencies and accelerate research and development of new detector products .", "aeg was a privately held group of companies headquartered in warstein , germany , with manufacturing operations in germany , china and the united states .", "the aggregate purchase price for aeg was approximately $ 31300 ( subject to adjustment ) consisting of eur $ 24100 in cash and 110 shares of hologic common stock valued at $ 5300 , and approximately $ 1900 for acquisition related fees and expenses .", "the company determined the fair value of the shares issued in connection with the acquisition in accordance with eitf issue no .", "99-12 , determination of the measurement date for the market price of acquirer securities issued in a purchase business combination .", "these 110 shares were subject to contingent put options pursuant to which the holders had the option to resell the shares to the company during a period of one year following the completion of the acquisition if the closing price of the company 2019s stock falls and remains below a threshold price .", "the put options were never exercised and expired on may 2 , 2007 .", "the acquisition also provided for a one-year earn out of eur 1700 ( approximately $ 2000 usd ) which was payable in cash if aeg calendar year 2006 earnings , as defined , exceeded a pre-determined amount .", "aeg 2019s 2006 earnings did not exceed such pre-determined amounts and no payment was made .", "the components and allocation of the purchase price , consists of the following approximate amounts: ." ]

[ "the aggregate purchase price for aeg was approximately $ 31300 ( subject to adjustment ) consisting of eur $ 24100 in cash and 110 shares of hologic common stock valued at $ 5300 , and approximately $ 1900 for acquisition related fees and expenses ." ]

[ [ "net tangible assets acquired as of may 2 2006", "$ 24800" ], [ "in-process research and development", "600" ], [ "developed technology and know how", "1900" ], [ "customer relationship", "800" ], [ "trade name", "400" ], [ "deferred income taxes", "-3000 ( 3000 )" ], [ "goodwill", "5800" ], [ "estimated purchase price", "$ 31300" ] ]

[ "____________________________ ( 1 ) relates to the issuance of the 4.625% ( 4.625 % ) notes .", "( 2 ) relates to the $ 400 million prepayment of the term c loan facility with proceeds from the 4.625% ( 4.625 % ) notes .", "( 3 ) relates to the september 2013 amendment to the celanese us existing senior secured credit facilities to reduce the interest rates payable in connection with certain borrowings thereby creating the term c-2 loan facility due 2016 .", "( 4 ) includes $ 6 million related to the issuance of the 3.250% ( 3.250 % ) notes and $ 4 million related to the september 24 , 2014 amendment to the celanese us existing senior secured credit facilities .", "( 5 ) includes $ 4 million related to the 6.625% ( 6.625 % ) notes redemption and $ 1 million related to the term c-2 loan facility conversion .", "as of december 31 , 2014 , the margin for borrowings under the term c-2 loan facility was 2.0% ( 2.0 % ) above the euro interbank offered rate ( \"euribor\" ) and the margin for borrowings under the term c-3 loan facility was 2.25% ( 2.25 % ) above libor ( for us dollars ) and 2.25% ( 2.25 % ) above euribor ( for euros ) , as applicable .", "as of december 31 , 2014 , the margin for borrowings under the revolving credit facility was 1.5% ( 1.5 % ) above libor .", "the margin for borrowings under the revolving credit facility is subject to increase or decrease in certain circumstances based on changes in the corporate credit ratings of celanese or celanese us .", "term loan borrowings under the amended credit agreement are subject to amortization at 1% ( 1 % ) of the initial principal amount per annum , payable quarterly .", "in addition , the company pays quarterly commitment fees on the unused portion of the revolving credit facility of 0.25% ( 0.25 % ) per annum .", "the amended credit agreement is guaranteed by celanese and certain domestic subsidiaries of celanese us and is secured by a lien on substantially all assets of celanese us and such guarantors , subject to certain agreed exceptions ( including for certain real property and certain shares of foreign subsidiaries ) , pursuant to the guarantee and collateral agreement , dated april 2 , as a condition to borrowing funds or requesting letters of credit be issued under the revolving credit facility , the company's first lien senior secured leverage ratio ( as calculated as of the last day of the most recent fiscal quarter for which financial statements have been delivered under the revolving facility ) cannot exceed the threshold as specified below .", "further , the company's first lien senior secured leverage ratio must be maintained at or below that threshold while any amounts are outstanding under the revolving credit facility. ." ]

[ "facility continue to have a maturity date of october 2016 .", "in addition , the maturity date of the company's revolving credit facility was extended to october 2018 and the facility was increased to $ 900 million from $ 600 million .", "accordingly , the amended credit agreement consists of the term c-2 loan facility , the term c-3 loan facility and a $ 900 million revolving credit facility .", "net deferred financing costs are as follows : net deferred financing costs ( in $ millions ) ." ]

[ "____________________________ ( 1 ) relates to the issuance of the 4.625% ( 4.625 % ) notes .", "( 5 ) includes $ 4 million related to the 6.625% ( 6.625 % ) notes redemption and $ 1 million related to the term c-2 loan facility conversion ." ]

[ [ "", "net deferred financing costs ( in $ millions )" ], [ "as of december 31 2011", "28" ], [ "financing costs deferred ( 1 )", "8" ], [ "accelerated amortization due to refinancing activity ( 2 )", "-1 ( 1 )" ], [ "amortization", "-5 ( 5 )" ], [ "as of december 31 2012", "30" ], [ "financing costs deferred ( 3 )", "2" ], [ "accelerated amortization due to refinancing activity", "2014" ], [ "amortization", "-5 ( 5 )" ], [ "as of december 31 2013", "27" ], [ "financing costs deferred ( 4 )", "10" ], [ "accelerated amortization due to refinancing activity ( 5 )", "-5 ( 5 )" ], [ "amortization", "-5 ( 5 )" ], [ "as of december 31 2014", "27" ] ]

[ "year-over-year change 22.4 % ( % ) 87.5 % ( % ) year-over-year changes in cash flow ( as defined ) were driven by improved performance in working capital resulting from the benefit derived from the pringles acquisition , as well as changes in the level of capital expenditures during the three-year period .", "investing activities our net cash used in investing activities for 2012 amounted to $ 3245 million , an increase of $ 2658 million compared with 2011 primarily attributable to the $ 2668 acquisition of pringles in capital spending in 2012 included investments in our supply chain infrastructure , and to support capacity requirements in certain markets , including pringles .", "in addition , we continued the investment in our information technology infrastructure related to the reimplementation and upgrade of our sap platform .", "net cash used in investing activities of $ 587 million in 2011 increased by $ 122 million compared with 2010 , reflecting capital projects for our reimplementation and upgrade of our sap platform and investments in our supply chain .", "cash paid for additions to properties as a percentage of net sales has decreased to 3.8% ( 3.8 % ) in 2012 , from 4.5% ( 4.5 % ) in 2011 , which was an increase from 3.8% ( 3.8 % ) in financing activities in february 2013 , we issued $ 250 million of two-year floating-rate u.s .", "dollar notes , and $ 400 million of ten-year 2.75% ( 2.75 % ) u.s .", "dollar notes .", "the proceeds from these notes will be used for general corporate purposes , including , together with cash on hand , repayment of the $ 750 million aggregate principal amount of our 4.25% ( 4.25 % ) u.s .", "dollar notes due march 2013 .", "the floating-rate notes bear interest equal to three-month libor plus 23 basis points , subject to quarterly reset .", "the notes contain customary covenants that limit the ability of kellogg company and its restricted subsidiaries ( as defined ) to incur certain liens or enter into certain sale and lease-back transactions , as well as a change of control provision .", "our net cash provided by financing activities was $ 1317 for 2012 , compared to net cash used in financing activities of $ 957 and $ 439 for 2011 and 2010 , respectively .", "the increase in cash provided from financing activities in 2012 compared to 2011 and 2010 , was primarily due to the issuance of debt related to the acquisition of pringles .", "total debt was $ 7.9 billion at year-end 2012 and $ 6.0 billion at year-end 2011 .", "in march 2012 , we entered into interest rate swaps on our $ 500 million five-year 1.875% ( 1.875 % ) fixed rate u.s .", "dollar notes due 2016 , $ 500 million ten-year 4.15% ( 4.15 % ) fixed rate u.s .", "dollar notes due 2019 and $ 500 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s .", "dollar notes due 2016 .", "the interest rate swaps effectively converted these notes from their fixed rates to floating rate obligations through maturity .", "in may 2012 , we issued $ 350 million of three-year 1.125% ( 1.125 % ) u.s .", "dollar notes , $ 400 million of five-year 1.75% ( 1.75 % ) u.s .", "dollar notes and $ 700 million of ten-year 3.125% ( 3.125 % ) u.s .", "dollar notes , resulting in aggregate net proceeds after debt discount of $ 1.442 billion .", "the proceeds of these notes were used for general corporate purposes , including financing a portion of the acquisition of pringles .", "in may 2012 , we issued cdn .", "$ 300 million of two-year 2.10% ( 2.10 % ) fixed rate canadian dollar notes , using the proceeds from these notes for general corporate purposes , which included repayment of intercompany debt .", "this repayment resulted in cash available to be used for a portion of the acquisition of pringles .", "in december 2012 , we repaid $ 750 million five-year 5.125% ( 5.125 % ) u.s .", "dollar notes at maturity with commercial paper .", "in february 2011 , we entered into interest rate swaps on $ 200 million of our $ 750 million seven-year 4.45% ( 4.45 % ) fixed rate u.s .", "dollar notes due 2016 .", "the interest rate swaps effectively converted this portion of the notes from a fixed rate to a floating rate obligation through maturity .", "in april 2011 , we repaid $ 945 million ten-year 6.60% ( 6.60 % ) u.s .", "dollar notes at maturity with commercial paper .", "in may 2011 , we issued $ 400 million of seven-year 3.25% ( 3.25 % ) fixed rate u.s .", "dollar notes , using the proceeds of $ 397 million for general corporate purposes and repayment of commercial paper .", "during 2011 , we entered into interest rate swaps with notional amounts totaling $ 400 million , which effectively converted these notes from a fixed rate to a floating rate obligation through maturity .", "in november 2011 , we issued $ 500 million of five-year 1.875% ( 1.875 % ) fixed rate u .", "s .", "dollar notes , using the proceeds of $ 498 million for general corporate purposes and repayment of commercial paper .", "during 2012 , we entered into interest rate swaps which effectively converted these notes from a fixed rate to a floating rate obligation through maturity .", "in april 2010 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 2.5 billion during 2010 through 2012 .", "this three year authorization replaced previous share buyback programs which had authorized stock repurchases of up to $ 1.1 billion for 2010 and $ 650 million for 2009 .", "under this program , we repurchased approximately 1 million , 15 million and 21 million shares of common stock for $ 63 million , $ 793 million and $ 1.1 billion during 2012 , 2011 and 2010 , respectively .", "in december 2012 , our board of directors approved a share repurchase program authorizing us to repurchase shares of our common stock amounting to $ 300 million during 2013 .", "we paid quarterly dividends to shareholders totaling $ 1.74 per share in 2012 , $ 1.67 per share in 2011 and $ 1.56 per share in 2010 .", "total cash paid for dividends increased by 3.0% ( 3.0 % ) in 2012 and 3.4% ( 3.4 % ) in 2011 .", "in march 2011 , we entered into an unsecured four- year credit agreement which allows us to borrow , on a revolving credit basis , up to $ 2.0 billion .", "our long-term debt agreements contain customary covenants that limit kellogg company and some of its subsidiaries from incurring certain liens or from entering into certain sale and lease-back transactions .", "some agreements also contain change in control provisions .", "however , they do not contain acceleration of maturity clauses that are dependent on credit ratings .", "a change in our credit ratings could limit our access to the u.s .", "short-term debt market and/or increase the cost of refinancing long-term debt in the future .", "however , even under these circumstances , we would continue to have access to our four-year credit agreement , which expires in march 2015 .", "this source of liquidity is unused and available on an unsecured basis , although we do not currently plan to use it .", "capital and credit markets , including commercial paper markets , continued to experience instability and disruption as the u.s .", "and global economies underwent a period of extreme uncertainty .", "throughout this period of uncertainty , we continued to have access to the u.s. , european , and canadian commercial paper markets .", "our commercial paper and term debt credit ratings were not affected by the changes in the credit environment .", "we monitor the financial strength of our third-party financial institutions , including those that hold our cash and cash equivalents as well as those who serve as counterparties to our credit facilities , our derivative financial instruments , and other arrangements .", "we are in compliance with all covenants as of december 29 , 2012 .", "we continue to believe that we will be able to meet our interest and principal repayment obligations and maintain our debt covenants for the foreseeable future , while still meeting our operational needs , including the pursuit of selected bolt-on acquisitions .", "this will be accomplished through our strong cash flow , our short- term borrowings , and our maintenance of credit facilities on a global basis. ." ]

[ "we measure cash flow as net cash provided by operating activities reduced by expenditures for property additions .", "we use this non-gaap financial measure of cash flow to focus management and investors on the amount of cash available for debt repayment , dividend distributions , acquisition opportunities , and share repurchases .", "our cash flow metric is reconciled to the most comparable gaap measure , as follows: ." ]

[ "( dollars in millions ) the cash flow of 2012 is $ 1225 ; the cash flow of 2011 is $ 1001 ; the cash flow of 2010 is $ 534 ;" ]

[ [ "( dollars in millions )", "2012", "2011", "2010" ], [ "net cash provided by operating activities", "$ 1758", "$ 1595", "$ 1008" ], [ "additions to properties", "-533 ( 533 )", "-594 ( 594 )", "-474 ( 474 )" ], [ "cash flow", "$ 1225", "$ 1001", "$ 534" ], [ "year-over-year change", "22.4% ( 22.4 % )", "87.5% ( 87.5 % )", "" ] ]

[ "at december 31 , 2006 , approximately 659000 shares were reserved for future issuance under this plan .", "n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( cont inued ) ." ]

[ "o 2019 r e i l l y a u t o m o t i v e 2 0 0 6 a n n u a l r e p o r t p a g e 38 $ 11080000 , in the years ended december 31 , 2006 , 2005 and 2004 , respectively .", "the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 , was $ 7702000 and the weighted-average period of time over which this cost will be recognized is 3.3 years .", "employee stock purchase plan the company 2019s employee stock purchase plan permits all eligible employees to purchase shares of the company 2019s common stock at 85% ( 85 % ) of the fair market value .", "participants may authorize the company to withhold up to 5% ( 5 % ) of their annual salary to participate in the plan .", "the stock purchase plan authorizes up to 2600000 shares to be granted .", "during the year ended december 31 , 2006 , the company issued 165306 shares under the purchase plan at a weighted average price of $ 27.36 per share .", "during the year ended december 31 , 2005 , the company issued 161903 shares under the purchase plan at a weighted average price of $ 27.57 per share .", "during the year ended december 31 , 2004 , the company issued 187754 shares under the purchase plan at a weighted average price of $ 20.85 per share .", "sfas no .", "123r requires compensation expense to be recognized based on the discount between the grant date fair value and the employee purchase price for shares sold to employees .", "during the year ended december 31 , 2006 , the company recorded $ 799000 of compensation cost related to employee share purchases and a corresponding income tax benefit of $ 295000 .", "at december 31 , 2006 , approximately 400000 shares were reserved for future issuance .", "other employee benefit plans the company sponsors a contributory profit sharing and savings plan that covers substantially all employees who are at least 21 years of age and have at least six months of service .", "the company has agreed to make matching contributions equal to 50% ( 50 % ) of the first 2% ( 2 % ) of each employee 2019s wages that are contributed and 25% ( 25 % ) of the next 4% ( 4 % ) of each employee 2019s wages that are contributed .", "the company also makes additional discretionary profit sharing contributions to the plan on an annual basis as determined by the board of directors .", "the company 2019s matching and profit sharing contributions under this plan are funded in the form of shares of the company 2019s common stock .", "a total of 4200000 shares of common stock have been authorized for issuance under this plan .", "during the year ended december 31 , 2006 , the company recorded $ 6429000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2372000 .", "during the year ended december 31 , 2005 , the company recorded $ 6606000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 2444000 .", "during the year ended december 31 , 2004 , the company recorded $ 5278000 of compensation cost for contributions to this plan and a corresponding income tax benefit of $ 1969000 .", "the compensation cost recorded in 2006 includes matching contributions made in 2006 and profit sharing contributions accrued in 2006 to be funded with issuance of shares of common stock in 2007 .", "the company issued 204000 shares in 2006 to fund profit sharing and matching contributions at an average grant date fair value of $ 34.34 .", "the company issued 210461 shares in 2005 to fund profit sharing and matching contributions at an average grant date fair value of $ 25.79 .", "the company issued 238828 shares in 2004 to fund profit sharing and matching contributions at an average grant date fair value of $ 19.36 .", "a portion of these shares related to profit sharing contributions accrued in prior periods .", "at december 31 , 2006 , approximately 1061000 shares were reserved for future issuance under this plan .", "the company has in effect a performance incentive plan for the company 2019s senior management under which the company awards shares of restricted stock that vest equally over a three-year period and are held in escrow until such vesting has occurred .", "shares are forfeited when an employee ceases employment .", "a total of 800000 shares of common stock have been authorized for issuance under this plan .", "shares awarded under this plan are valued based on the market price of the company 2019s common stock on the date of grant and compensation cost is recorded over the vesting period .", "the company recorded $ 416000 of compensation cost for this plan for the year ended december 31 , 2006 and recognized a corresponding income tax benefit of $ 154000 .", "the company recorded $ 289000 of compensation cost for this plan for the year ended december 31 , 2005 and recognized a corresponding income tax benefit of $ 107000 .", "the company recorded $ 248000 of compensation cost for this plan for the year ended december 31 , 2004 and recognized a corresponding income tax benefit of $ 93000 .", "the total fair value of shares vested ( at vest date ) for the years ended december 31 , 2006 , 2005 and 2004 were $ 503000 , $ 524000 and $ 335000 , respectively .", "the remaining unrecognized compensation cost related to unvested awards at december 31 , 2006 was $ 536000 .", "the company awarded 18698 shares under this plan in 2006 with an average grant date fair value of $ 33.12 .", "the company awarded 14986 shares under this plan in 2005 with an average grant date fair value of $ 25.41 .", "the company awarded 15834 shares under this plan in 2004 with an average grant date fair value of $ 19.05 .", "compensation cost for shares awarded in 2006 will be recognized over the three-year vesting period .", "changes in the company 2019s restricted stock for the year ended december 31 , 2006 were as follows : weighted- average grant date shares fair value ." ]

[ "the non-vested at december 31 2006 of shares is 16291 ; the non-vested at december 31 2006 of weighted-average grant date fair value is $ 30.80 ;", "at december 31 , 2006 , approximately 400000 shares were reserved for future issuance .", "at december 31 , 2006 , approximately 659000 shares were reserved for future issuance under this plan ." ]

[ [ "", "shares", "weighted-average grant date fair value" ], [ "non-vested at december 31 2005", "15052", "$ 22.68" ], [ "granted during the period", "18698", "33.12" ], [ "vested during the period", "-15685 ( 15685 )", "26.49" ], [ "forfeited during the period", "-1774 ( 1774 )", "27.94" ], [ "non-vested at december 31 2006", "16291", "$ 30.80" ] ]

[ "net debt consists of debt less cash and cash equivalents .", "debt consists of notes payable , capital lease obligations , preferred stock with sinking fund , and long-term debt , including the currently maturing portion .", "capital consists of debt , shareholders 2019 equity , and preferred stock without sinking fund .", "net capital consists of capital less cash and cash equivalents .", "entergy uses the net debt to net capital ratio in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition .", "m an ag e ment 2019s f i n anc ial d i scuss ion an d an alys is co n t i n u e d ." ]

[ "e nt e r g y c o r p o r a t i o n a n d s u b s i d i a r i e s 2 0 0 7 n an increase of $ 16 million in fossil operating costs due to the purchase of the attala plant in january 2006 and the perryville plant coming online in july 2005 ; n an increase of $ 12 million related to storm reserves .", "this increase does not include costs associated with hurricanes katrina and rita ; and n an increase of $ 12 million due to a return to normal expense patterns in 2006 versus the deferral or capitalization of storm costs in 2005 .", "other operation and maintenance expenses increased for non- utility nuclear from $ 588 million in 2005 to $ 637 million in 2006 primarily due to the timing of refueling outages , increased benefit and insurance costs , and increased nrc fees .", "taxes other than income taxes taxes other than income taxes increased for the utility from $ 322 million in 2005 to $ 361 million in 2006 primarily due to an increase in city franchise taxes in arkansas due to a change in 2006 in the accounting for city franchise tax revenues as directed by the apsc .", "the change results in an increase in taxes other than income taxes with a corresponding increase in rider revenue , resulting in no effect on net income .", "also contributing to the increase was higher franchise tax expense at entergy gulf states , inc .", "as a result of higher gross revenues in 2006 and a customer refund in 2005 .", "other income other income increased for the utility from $ 111 million in 2005 to $ 156 million in 2006 primarily due to carrying charges recorded on storm restoration costs .", "other income increased for non-utility nuclear primarily due to miscellaneous income of $ 27 million ( $ 16.6 million net-of-tax ) resulting from a reduction in the decommissioning liability for a plant as a result of a revised decommissioning cost study and changes in assumptions regarding the timing of when decommissioning of a plant will begin .", "other income increased for parent & other primarily due to a gain related to its entergy-koch investment of approximately $ 55 million ( net-of-tax ) in the fourth quarter of 2006 .", "in 2004 , entergy-koch sold its energy trading and pipeline businesses to third parties .", "at that time , entergy received $ 862 million of the sales proceeds in the form of a cash distribution by entergy-koch .", "due to the november 2006 expiration of contingencies on the sale of entergy-koch 2019s trading business , and the corresponding release to entergy-koch of sales proceeds held in escrow , entergy received additional cash distributions of approximately $ 163 million during the fourth quarter of 2006 and recorded a gain of approximately $ 55 million ( net-of-tax ) .", "entergy expects future cash distributions upon liquidation of the partnership will be less than $ 35 million .", "interest charges interest charges increased for the utility and parent & other primarily due to additional borrowing to fund the significant storm restoration costs associated with hurricanes katrina and rita .", "discontinued operations in april 2006 , entergy sold the retail electric portion of the competitive retail services business operating in the electric reliability council of texas ( ercot ) region of texas , and now reports this portion of the business as a discontinued operation .", "earnings for 2005 were negatively affected by $ 44.8 million ( net-of-tax ) of discontinued operations due to the planned sale .", "this amount includes a net charge of $ 25.8 million ( net-of-tax ) related to the impairment reserve for the remaining net book value of the competitive retail services business 2019 information technology systems .", "results for 2006 include an $ 11.1 million gain ( net-of-tax ) on the sale of the retail electric portion of the competitive retail services business operating in the ercot region of texas .", "income taxes the effective income tax rates for 2006 and 2005 were 27.6% ( 27.6 % ) and 36.6% ( 36.6 % ) , respectively .", "the lower effective income tax rate in 2006 is primarily due to tax benefits , net of reserves , resulting from the tax capital loss recognized in connection with the liquidation of entergy power international holdings , entergy 2019s holding company for entergy-koch .", "also contributing to the lower rate for 2006 is an irs audit settlement that allowed entergy to release from its tax reserves all settled issues relating to 1996-1998 audit cycle .", "see note 3 to the financial statements for a reconciliation of the federal statutory rate of 35.0% ( 35.0 % ) to the effective income tax rates , and for additional discussion regarding income taxes .", "liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .", "capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table .", "the increase in the debt to capital percentage from 2006 to 2007 is primarily the result of additional borrowings under entergy corporation 2019s revolving credit facility , along with a decrease in shareholders 2019 equity primarily due to repurchases of common stock .", "this increase in the debt to capital percentage is in line with entergy 2019s financial and risk management aspirations .", "the decrease in the debt to capital percentage from 2005 to 2006 is the result of an increase in shareholders 2019 equity , primarily due to an increase in retained earnings , partially offset by repurchases of common stock. ." ]

[ "the net debt to net capital at the end of the year of 2007 is 54.6% ( 54.6 % ) ; the net debt to net capital at the end of the year of 2006 is 49.4% ( 49.4 % ) ; the net debt to net capital at the end of the year of 2005 is 51.5% ( 51.5 % ) ;", "the effect of subtracting cash from debt of 2007 is 3.0% ( 3.0 % ) ; the effect of subtracting cash from debt of 2006 is 2.9% ( 2.9 % ) ; the effect of subtracting cash from debt of 2005 is 1.6% ( 1.6 % ) ;" ]

[ [ "", "2007", "2006", "2005" ], [ "net debt to net capital at the end of the year", "54.6% ( 54.6 % )", "49.4% ( 49.4 % )", "51.5% ( 51.5 % )" ], [ "effect of subtracting cash from debt", "3.0% ( 3.0 % )", "2.9% ( 2.9 % )", "1.6% ( 1.6 % )" ], [ "debt to capital at the end of the year", "57.6% ( 57.6 % )", "52.3% ( 52.3 % )", "53.1% ( 53.1 % )" ] ]

[ "." ]

[ "federal realty investment trust schedule iii summary of real estate and accumulated depreciation 2014continued three years ended december 31 , 2010 reconciliation of accumulated depreciation and amortization ( in thousands ) ." ]

[ "balance december 31 2007 the balance december 31 2009 of $ 756703 is 938087 ;", "balance december 31 2007 the balance december 31 2010 of $ 756703 is $ 1035204 ;" ]

[ [ "balance december 31 2007", "$ 756703" ], [ "additions during period 2014depreciation and amortization expense", "101321" ], [ "deductions during period 2014disposition and retirements of property", "-11766 ( 11766 )" ], [ "balance december 31 2008", "846258" ], [ "additions during period 2014depreciation and amortization expense", "103698" ], [ "deductions during period 2014disposition and retirements of property", "-11869 ( 11869 )" ], [ "balance december 31 2009", "938087" ], [ "additions during period 2014depreciation and amortization expense", "108261" ], [ "deductions during period 2014disposition and retirements of property", "-11144 ( 11144 )" ], [ "balance december 31 2010", "$ 1035204" ] ]

[ "entergy corporation and subsidiaries notes to financial statements note 11 . a0 retirement , other postretirement benefits , and defined contribution plans a0 a0 ( entergy corporation , entergy arkansas , entergy louisiana , entergy mississippi , entergy new orleans , entergy texas , and system energy ) qualified pension plans entergy has eight qualified pension plans covering substantially all employees .", "the entergy corporation retirement plan for non-bargaining employees ( non-bargaining plan i ) , the entergy corporation retirement plan for bargaining employees ( bargaining plan i ) , the entergy corporation retirement plan ii for non-bargaining employees ( non-bargaining plan ii ) , the entergy corporation retirement plan ii for bargaining employees , the entergy corporation retirement plan iii , and the entergy corporation retirement plan iv for bargaining employees a0are non-contributory final average pay plans and provide pension benefits that are based on employees 2019 credited service and compensation during employment .", "effective as of the close of business on december 31 , 2016 , the entergy corporation retirement plan iv for non-bargaining employees ( non-bargaining plan iv ) was merged with and into non-bargaining plan ii .", "at the close of business on december 31 , 2016 , the liabilities for the accrued benefits and the assets attributable to such liabilities of all participants in non-bargaining plan iv were assumed by and transferred to non-bargaining plan ii .", "there was no loss of vesting or benefit options or reduction of accrued benefits to affected participants as a result of this plan merger .", "non-bargaining employees whose most recent date of hire is after june 30 , 2014 participate in the entergy corporation cash balance plan for non-bargaining employees ( non-bargaining cash balance plan ) .", "certain bargaining employees hired or rehired after june 30 , 2014 , or such later date provided for in their applicable collective bargaining agreements , participate in the entergy corporation cash balance plan for bargaining employees ( bargaining cash balance plan ) .", "the registrant subsidiaries participate in these four plans : non-bargaining plan i , bargaining plan i , non-bargaining cash balance plan , and bargaining cash balance plan .", "the assets of the six final average pay qualified pension plans are held in a master trust established by entergy , and the assets of the two cash balance pension plans are held in a second master trust established by entergy . a0 a0each pension plan has an undivided beneficial interest in each of the investment accounts in its respective master trust that is maintained by a trustee . a0 a0use of the master trusts permits the commingling of the trust assets of the pension plans of entergy corporation and its registrant subsidiaries for investment and administrative purposes . a0 a0although assets in the master trusts are commingled , the trustee maintains supporting records for the purpose of allocating the trust level equity in net earnings ( loss ) and the administrative expenses of the investment accounts in each trust to the various participating pension plans in that particular trust . a0 a0the fair value of the trusts 2019 assets is determined by the trustee and certain investment managers . a0 a0for each trust , the trustee calculates a daily earnings factor , including realized and ." ]

[ "as of december a031 , 2017 , system energy , in connection with the grand gulf sale and leaseback transactions , had future minimum lease payments ( reflecting an implicit rate of 5.13% ( 5.13 % ) ) that are recorded as long-term debt , as follows : amount ( in thousands ) ." ]

[ "the 2022 of amount ( in thousands ) is 17188 ;", "the present value of net minimum lease payments of amount ( in thousands ) is $ 34356 ;" ]

[ [ "", "amount ( in thousands )" ], [ "2018", "$ 17188" ], [ "2019", "17188" ], [ "2020", "17188" ], [ "2021", "17188" ], [ "2022", "17188" ], [ "years thereafter", "240625" ], [ "total", "326565" ], [ "less : amount representing interest", "292209" ], [ "present value of net minimum lease payments", "$ 34356" ] ]

[ "flows reflected ongoing institutional demand for our solutions-based advice with $ 15.1 billion , or 52% ( 52 % ) , of net inflows coming from institutional clients .", "defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 12.8 billion to institutional multi- asset class net new business in 2014 , primarily into target date and target risk product offerings .", "retail net inflows of $ 13.4 billion were driven by particular demand for our multi- asset income fund , which raised $ 6.3 billion in 2014 .", "the company 2019s multi-asset strategies include the following : 2022 asset allocation and balanced products represented 48% ( 48 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 18.4 billion .", "these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .", "in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .", "flagship products in this category include our global allocation andmulti-asset income suites .", "2022 target date and target risk products grew 10% ( 10 % ) organically in 2014 .", "institutional investors represented 90% ( 90 % ) of target date and target risk aum , with defined contribution plans accounting for over 80% ( 80 % ) of aum .", "the remaining 10% ( 10 % ) of target date and target risk aum consisted of retail client investments .", "flows were driven by defined contribution investments in our lifepath and lifepath retirement income ae offerings .", "lifepath products utilize a proprietary asset allocation model that seeks to balance risk and return over an investment horizon based on the investor 2019s expected retirement timing .", "2022 fiduciary management services are complex mandates in which pension plan sponsors or endowments and foundations retain blackrock to assume responsibility for some or all aspects of planmanagement .", "these customized services require strong partnership with the clients 2019 investment staff and trustees in order to tailor investment strategies to meet client-specific risk budgets and return objectives. ." ]

[ "long-term product offerings include active and index strategies .", "our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .", "we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .", "in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .", "index strategies include both our non-etf index products and ishares etfs .", "althoughmany clients use both active and index strategies , the application of these strategies may differ .", "for example , clients may use index products to gain exposure to a market or asset class .", "in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .", "this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .", "equity year-end 2014 equity aum of $ 2.451 trillion increased by $ 133.4 billion , or 6% ( 6 % ) , from the end of 2013 due to net new business of $ 52.4 billion and net market appreciation and foreign exchange movements of $ 81.0 billion .", "net inflows were driven by $ 59.6 billion and $ 17.7 billion into ishares and non-etf index accounts , respectively .", "index inflows were offset by active net outflows of $ 24.9 billion , with outflows of $ 18.0 billion and $ 6.9 billion from fundamental and scientific active equity products , respectively .", "blackrock 2019s effective fee rates fluctuate due to changes in aummix .", "approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than similar u.s .", "equity strategies .", "accordingly , fluctuations in international equity markets , which do not consistently move in tandemwith u.s .", "markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .", "fixed income fixed income aum ended 2014 at $ 1.394 trillion , increasing $ 151.5 billion , or 12% ( 12 % ) , from december 31 , 2013 .", "the increase in aum reflected $ 96.4 billion in net new business and $ 55.1 billion in net market appreciation and foreign exchange movements .", "in 2014 , net new business was diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield products .", "flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income global opportunities funds , with net inflows of $ 13.3 billion and $ 4.2 billion , respectively ; our total return fund with net inflows of $ 2.1 billion ; and our high yield bond fund with net inflows of $ 2.1 billion .", "fixed income net inflows were positive across investment styles , with ishares , non- etf index , and active net inflows of $ 40.0 billion , $ 28.7 billion and $ 27.7 billion , respectively .", "multi-asset class blackrock 2019s multi-asset class teammanages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , currencies , bonds and commodities , and our extensive risk management capabilities .", "investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .", "component changes in multi-asset class aum for 2014 are presented below .", "( in millions ) december 31 , 2013 net inflows ( outflows ) market change fx impact december 31 , 2014 ." ]

[ "( in millions ) the multi-asset of december 31 2013 is $ 341214 ; the multi-asset of net inflows ( outflows ) is $ 28905 ; the multi-asset of market change is $ 21044 ; the multi-asset of fx impact is $ -13326 ( 13326 ) ; the multi-asset of december 31 2014 is $ 377837 ;", "( in millions ) december 31 , 2013 net inflows ( outflows ) market change fx impact december 31 , 2014 ." ]

[ [ "( in millions )", "december 31 2013", "net inflows ( outflows )", "market change", "fx impact", "december 31 2014" ], [ "asset allocation and balanced", "$ 169604", "$ 18387", "$ -827 ( 827 )", "$ -4132 ( 4132 )", "$ 183032" ], [ "target date/risk", "111408", "10992", "7083", "-872 ( 872 )", "128611" ], [ "fiduciary", "60202", "-474 ( 474 )", "14788", "-8322 ( 8322 )", "66194" ], [ "multi-asset", "$ 341214", "$ 28905", "$ 21044", "$ -13326 ( 13326 )", "$ 377837" ] ]

[ "1 represents after-tax interest expense utilizing the federal statutory rate of 35% ( 35 % ) .", "2 debt consists of long-term debt , including current maturities , and short-term borrowings ( if any ) .", "3 equity includes non-cash adjustments for other comprehensive losses , primarily for the additional minimum pension liability .", "4 minimum pension liability values reflect the cumulative value of entries identified in our statement of stockholders equity under the caption 201cminimum pension liability . 201d the annual minimum pension liability adjustments to equity were : 2001 = ( $ 33 million ) ; 2002 = ( $ 1537 million ) ; 2003 = $ 331 million ; 2004 = ( $ 285 million ) ; 2005 = ( $ 105 million ) .", "as these entries are recorded in the fourth quarter , the value added back to our average equity in a given year is the cumulative impact of all prior year entries plus 20% ( 20 % ) of the cur- rent year entry value .", "5 yearly averages are calculated using balances at the start of the year and at the end of each quarter .", "lockheed martin corporation ." ]

[ "page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) .", "( b ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 215 million , $ 154 million after tax ( $ 0.34 per share ) .", "also includes a reduction in income tax expense resulting from the closure of an internal revenue service examination of $ 144 million ( $ 0.32 per share ) .", "these items reduced earnings by $ 10 million after tax ( $ 0.02 per share ) .", "( c ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in md&a ) which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 153 million , $ 102 million after tax ( $ 0.22 per share ) .", "( d ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 1112 million , $ 632 million after tax ( $ 1.40 per share ) .", "in 2002 , the corporation adopted fas 142 which prohibits the amortization of goodwill .", "( e ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments which , on a combined basis , decreased earnings from continuing operations before income taxes by $ 973 million , $ 651 million after tax ( $ 1.50 per share ) .", "also includes a gain from the disposal of a business and charges for the corporation 2019s exit from its global telecommunications services business which is included in discontinued operations and which , on a combined basis , increased the net loss by $ 1 billion ( $ 2.38 per share ) .", "( f ) the corporation defines return on invested capital ( roic ) as net income plus after-tax interest expense divided by average invested capital ( stockholders 2019 equity plus debt ) , after adjusting stockholders 2019 equity by adding back the minimum pension liability .", "the adjustment to add back the minimum pension liability is a revision to our calculation in 2005 , which the corporation believes more closely links roic to management performance .", "further , the corporation believes that reporting roic provides investors with greater visibility into how effectively lockheed martin uses the capital invested in its operations .", "the corporation uses roic to evaluate multi-year investment decisions and as a long-term performance measure , and also uses roic as a factor in evaluating management performance under certain incentive compensation plans .", "roic is not a measure of financial performance under gaap , and may not be defined and calculated by other companies in the same manner .", "roic should not be considered in isola- tion or as an alternative to net earnings as an indicator of performance .", "the following calculations of roic reflect the revision to the calculation discussed above for all periods presented .", "( in millions ) 2005 2004 2003 2002 2001 ." ]

[ "page 74 notes to five year summary ( a ) includes the effects of items not considered in senior management 2019s assessment of the operating performance of the corporation 2019s business segments ( see the section , 201cresults of operations 201d in management 2019s discussion and analysis of financial condition and results of operations ( md&a ) ) which , on a combined basis , increased earnings from continuing operations before income taxes by $ 173 million , $ 113 million after tax ( $ 0.25 per share ) ." ]

[ [ "( in millions )", "2005", "2004", "2003", "2002", "2001" ], [ "net earnings", "$ 1825", "$ 1266", "$ 1053", "$ 500", "$ -1046 ( 1046 )" ], [ "interest expense ( multiplied by 65% ( 65 % ) ) 1", "241", "276", "317", "378", "455" ], [ "return", "$ 2066", "$ 1542", "$ 1370", "$ 878", "$ -591 ( 591 )" ], [ "average debt2 5", "$ 5077", "$ 5932", "$ 6612", "$ 7491", "$ 8782" ], [ "average equity3 5", "7590", "7015", "6170", "6853", "7221" ], [ "average minimum pension liability3 4 5", "1545", "1296", "1504", "341", "6" ], [ "average invested capital", "$ 14212", "$ 14243", "$ 14286", "$ 14685", "$ 16009" ], [ "return on invested capital", "14.5% ( 14.5 % )", "10.8% ( 10.8 % )", "9.6% ( 9.6 % )", "6.0% ( 6.0 % )", "( 3.7 ) % ( % )" ] ]

[ "there were no significant stock-based compensation costs capitalized during the years ended december 31 , 2015 , 2014 and 2013 .", "the cost of services received from employees in exchange for the issuance of stock options and restricted stock awards is measured based on the grant date fair value of the awards issued .", "the value of stock options and rsus awards at the date of the grant is amortized through expense over the three-year service period .", "all awards granted in 2015 , 2014 and 2013 are classified as equity .", "the company receives a tax deduction based on the intrinsic value of the award at the exercise date for stock options and the distribution date for rsus .", "for each award , throughout the requisite service period , the company recognizes the tax benefits , which have been included in deferred income tax assets , related to compensation costs .", "the tax deductions in excess of the benefits recorded throughout the requisite service period are recorded to common stockholders 2019 equity or the statement of operations and are presented in the financing section of the consolidated statements of cash flows .", "the company stratified its grant populations and used historic employee turnover rates to estimate employee forfeitures .", "the estimated rate is compared to the actual forfeitures at the end of the reporting period and adjusted as necessary .", "stock options in 2015 , 2014 and 2013 , the company granted non-qualified stock options to certain employees under the 2007 plan .", "the stock options vest ratably over the three-year service period beginning on january 1 of the year of the grant .", "these awards have no performance vesting conditions and the grant date fair value is amortized through expense over the requisite service period using the straight-line method and is included in operations and maintenance expense in the accompanying consolidated statements of operations. ." ]

[ "note 9 : stock based compensation the company has granted stock option and restricted stock unit ( 201crsus 201d ) awards to non-employee directors , officers and other key employees of the company pursuant to the terms of its 2007 omnibus equity compensation plan ( the 201c2007 plan 201d ) .", "the total aggregate number of shares of common stock that may be issued under the 2007 plan is 15.5 .", "as of december 31 , 2015 , 8.4 shares were available for grant under the 2007 plan .", "shares issued under the 2007 plan may be authorized-but-unissued shares of company stock or reacquired shares of company stock , including shares purchased by the company on the open market .", "the company recognizes compensation expense for stock awards over the vesting period of the award .", "the following table presents stock-based compensation expense recorded in operation and maintenance expense in the accompanying consolidated statements of operations for the years ended december 31: ." ]

[ "the stock options of 2015 is $ 2 ; the stock options of 2014 is $ 2 ; the stock options of 2013 is $ 3 ;", "the stock-based compensation of 2015 is 11 ; the stock-based compensation of 2014 is 13 ; the stock-based compensation of 2013 is 13 ;" ]

[ [ "", "2015", "2014", "2013" ], [ "stock options", "$ 2", "$ 2", "$ 3" ], [ "rsus", "8", "10", "9" ], [ "espp", "1", "1", "1" ], [ "stock-based compensation", "11", "13", "13" ], [ "income tax benefit", "-4 ( 4 )", "-5 ( 5 )", "-5 ( 5 )" ], [ "stock-based compensation expense net of tax", "$ 7", "$ 8", "$ 8" ] ]

[ "revenue recognition .", "the company's contracts with customers are comprised of acknowledged purchase orders incorporating the company 2019s standard terms and conditions , or for larger customers , may also generally include terms under negotiated multi-year agreements .", "these contracts with customers typically consist of the manufacture of products which represent single performance obligations that are satisfied upon transfer of control of the product to the customer .", "the company produces fastening systems ; seamless rolled rings ; investment castings , including airfoils and forged jet engine components ; extruded , machined and formed aircraft parts ; aluminum sheet and plate ; integrated aluminum structural systems ; architectural extrusions ; and forged aluminum commercial vehicle wheels .", "transfer of control is assessed based on alternative use of the products we produce and our enforceable right to payment for performance to date under the contract terms .", "transfer of control and revenue recognition generally occur upon shipment or delivery of the product , which is when title , ownership and risk of loss pass to the customer and is based on the applicable shipping terms .", "the shipping terms vary across all businesses and depend on the product , the country of origin , and the type of transportation ( truck , train , or vessel ) .", "an invoice for payment is issued at time of shipment .", "the company 2019s objective is to have net 30-day terms .", "our business units set commercial terms on which arconic sells products to its customers .", "these terms are influenced by industry custom , market conditions , product line ( specialty versus commodity products ) , and other considerations .", "in certain circumstances , arconic receives advanced payments from its customers for product to be delivered in future periods .", "these advanced payments are recorded as deferred revenue until the product is delivered and title and risk of loss have passed to the customer in accordance with the terms of the contract .", "deferred revenue is included in other current liabilities and other noncurrent liabilities and deferred credits on the accompanying consolidated balance sheet .", "environmental matters .", "expenditures for current operations are expensed or capitalized , as appropriate .", "expenditures relating to existing conditions caused by past operations , which will not contribute to future revenues , are expensed .", "liabilities are recorded when remediation costs are probable and can be reasonably estimated .", "the liability may include costs such as site investigations , consultant fees , feasibility studies , outside contractors , and monitoring expenses .", "estimates are generally not discounted or reduced by potential claims for recovery .", "claims for recovery are recognized when probable and as agreements are reached with third parties .", "the estimates also include costs related to other potentially responsible parties to the extent that arconic has reason to believe such parties will not fully pay their proportionate share .", "the liability is continuously reviewed and adjusted to reflect current remediation progress , prospective estimates of required activity , and other factors that may be relevant , including changes in technology or regulations .", "litigation matters .", "for asserted claims and assessments , liabilities are recorded when an unfavorable outcome of a matter is ." ]

[ "discounted cash flow model ( dcf ) to estimate the current fair value of its reporting units when testing for impairment , as management believes forecasted cash flows are the best indicator of such fair value .", "a number of significant assumptions and estimates are involved in the application of the dcf model to forecast operating cash flows , including sales growth ( volumes and pricing ) , production costs , capital spending , and discount rate .", "most of these assumptions vary significantly among the reporting units .", "cash flow forecasts are generally based on approved business unit operating plans for the early years and historical relationships in later years .", "the wacc rate for the individual reporting units is estimated with the assistance of valuation experts .", "arconic would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit 2019s fair value without exceeding the total amount of goodwill allocated to that reporting unit .", "in connection with the interim impairment evaluation of long-lived assets for the disks operations ( an asset group within the aen business unit ) in the second quarter of 2018 , which resulted from a decline in forecasted financial performance for the business in connection with its updated three-year strategic plan , the company also performed an interim impairment evaluation of goodwill for the aen reporting unit .", "the estimated fair value of the reporting unit was substantially in excess of the carrying value ; thus , there was no impairment of goodwill .", "goodwill impairment tests in 2017 and 2016 indicated that goodwill was not impaired for any of the company 2019s reporting units , except for the arconic forgings and extrusions ( afe ) business whose estimated fair value was lower than its carrying value .", "as such , arconic recorded an impairment for the full amount of goodwill in the afe reporting unit of $ 719 .", "the decrease in the afe fair value was primarily due to unfavorable performance that was impacting operating margins and a higher discount rate due to an increase in the risk-free rate of return , while the carrying value increased compared to prior year .", "other intangible assets .", "intangible assets with indefinite useful lives are not amortized while intangible assets with finite useful lives are amortized generally on a straight-line basis over the periods benefited .", "the following table details the weighted- average useful lives of software and other intangible assets by reporting segment ( numbers in years ) : ." ]

[ "the transportation and construction solutions of software is 5 ; the transportation and construction solutions of other intangible assets is 16 ;" ]

[ [ "", "software", "other intangible assets" ], [ "engineered products and solutions", "5", "33" ], [ "global rolled products", "5", "9" ], [ "transportation and construction solutions", "5", "16" ] ]

[ "( 1 ) the cash payments due for long-term debt include estimated interest payments .", "estimates of interest payments are based on outstanding principal amounts , applicable fixed interest rates or currently effective interest rates as of may 31 , 2014 ( if variable ) , timing of scheduled payments , and the term of the debt obligations .", "( 2 ) the amounts listed for endorsement contracts represent approximate amounts of base compensation and minimum guaranteed royalty fees we are obligated to pay athlete and sport team endorsers of our products .", "actual payments under some contracts may be higher than the amounts listed as these contracts provide for bonuses to be paid to the endorsers based upon athletic achievements and/or royalties on product sales in future periods .", "actual payments under some contracts may also be lower as these contracts include provisions for reduced payments if athletic performance declines in future periods .", "in addition to the cash payments , we are obligated to furnish our endorsers with nike product for their use .", "it is not possible to determine how much we will spend on this product on an annual basis as the contracts generally do not stipulate a specific amount of cash to be spent on the product .", "the amount of product provided to the endorsers will depend on many factors , including general playing conditions , the number of sporting events in which they participate , and our own decisions regarding product and marketing initiatives .", "in addition , the costs to design , develop , source , and purchase the products furnished to the endorsers are incurred over a period of time and are not necessarily tracked separately from similar costs incurred for products sold to customers .", "( 3 ) we generally order product at least four to five months in advance of sale based primarily on futures orders received from customers .", "the amounts listed for product purchase obligations represent agreements ( including open purchase orders ) to purchase products in the ordinary course of business that are enforceable and legally binding and that specify all significant terms .", "in some cases , prices are subject to change throughout the production process .", "the reported amounts exclude product purchase liabilities included in accounts payable on the consolidated balance sheet as of may 31 , 2014 .", "( 4 ) other amounts primarily include service and marketing commitments made in the ordinary course of business .", "the amounts represent the minimum payments required by legally binding contracts and agreements that specify all significant terms , including open purchase orders for non-product purchases .", "the reported amounts exclude those liabilities included in accounts payable or accrued liabilities on the consolidated balance sheet as of may 31 , 2014 .", "nike , inc .", "2014 annual report and notice of annual meeting 79 ." ]

[ "part ii on november 1 , 2011 , we entered into a committed credit facility agreement with a syndicate of banks which provides for up to $ 1 billion of borrowings with the option to increase borrowings to $ 1.5 billion with lender approval .", "following an extension agreement on september 17 , 2013 between the company and the syndicate of banks , the facility matures november 1 , 2017 , with a one-year extension option exercisable through october 31 , 2014 .", "no amounts were outstanding under this facility as of may 31 , 2014 or 2013 .", "we currently have long-term debt ratings of aa- and a1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .", "if our long- term debt rating were to decline , the facility fee and interest rate under our committed credit facility would increase .", "conversely , if our long-term debt rating were to improve , the facility fee and interest rate would decrease .", "changes in our long-term debt rating would not trigger acceleration of maturity of any then-outstanding borrowings or any future borrowings under the committed credit facility .", "under this committed revolving credit facility , we have agreed to various covenants .", "these covenants include limits on our disposal of fixed assets , the amount of debt secured by liens we may incur , as well as a minimum capitalization ratio .", "in the event we were to have any borrowings outstanding under this facility and failed to meet any covenant , and were unable to obtain a waiver from a majority of the banks in the syndicate , any borrowings would become immediately due and payable .", "as of may 31 , 2014 , we were in full compliance with each of these covenants and believe it is unlikely we will fail to meet any of these covenants in the foreseeable future .", "liquidity is also provided by our $ 1 billion commercial paper program .", "during the year ended may 31 , 2014 , we did not issue commercial paper , and as of may 31 , 2014 , there were no outstanding borrowings under this program .", "we may continue to issue commercial paper or other debt securities during fiscal 2015 depending on general corporate needs .", "we currently have short-term debt ratings of a1+ and p1 from standard and poor 2019s corporation and moody 2019s investor services , respectively .", "as of may 31 , 2014 , we had cash , cash equivalents , and short-term investments totaling $ 5.1 billion , of which $ 2.5 billion was held by our foreign subsidiaries .", "cash equivalents and short-term investments consist primarily of deposits held at major banks , money market funds , commercial paper , corporate notes , u.s .", "treasury obligations , u.s .", "government sponsored enterprise obligations , and other investment grade fixed income securities .", "our fixed income investments are exposed to both credit and interest rate risk .", "all of our investments are investment grade to minimize our credit risk .", "while individual securities have varying durations , as of may 31 , 2014 the average duration of our short-term investments and cash equivalents portfolio was 126 days .", "to date we have not experienced difficulty accessing the credit markets or incurred higher interest costs .", "future volatility in the capital markets , however , may increase costs associated with issuing commercial paper or other debt instruments or affect our ability to access those markets .", "we believe that existing cash , cash equivalents , short-term investments , and cash generated by operations , together with access to external sources of funds as described above , will be sufficient to meet our domestic and foreign capital needs in the foreseeable future .", "we utilize a variety of tax planning and financing strategies to manage our worldwide cash and deploy funds to locations where they are needed .", "we routinely repatriate a portion of our foreign earnings for which u.s .", "taxes have previously been provided .", "we also indefinitely reinvest a significant portion of our foreign earnings , and our current plans do not demonstrate a need to repatriate these earnings .", "should we require additional capital in the united states , we may elect to repatriate indefinitely reinvested foreign funds or raise capital in the united states through debt .", "if we were to repatriate indefinitely reinvested foreign funds , we would be required to accrue and pay additional u.s .", "taxes less applicable foreign tax credits .", "if we elect to raise capital in the united states through debt , we would incur additional interest expense .", "off-balance sheet arrangements in connection with various contracts and agreements , we routinely provide indemnification relating to the enforceability of intellectual property rights , coverage for legal issues that arise and other items where we are acting as the guarantor .", "currently , we have several such agreements in place .", "however , based on our historical experience and the estimated probability of future loss , we have determined that the fair value of such indemnification is not material to our financial position or results of operations .", "contractual obligations our significant long-term contractual obligations as of may 31 , 2014 and significant endorsement contracts entered into through the date of this report are as follows: ." ]

[ "description of commitment ( in millions ) the operating leases of description of commitment 2015 is $ 427 ; the operating leases of description of commitment 2016 is $ 399 ; the operating leases of description of commitment 2017 is $ 366 ; the operating leases of description of commitment 2018 is $ 311 ; the operating leases of description of commitment 2019 is $ 251 ; the operating leases of description of commitment thereafter is $ 1050 ; the operating leases of total is $ 2804 ;" ]

[ [ "description of commitment ( in millions )", "description of commitment 2015", "description of commitment 2016", "description of commitment 2017", "description of commitment 2018", "description of commitment 2019", "description of commitment thereafter", "total" ], [ "operating leases", "$ 427", "$ 399", "$ 366", "$ 311", "$ 251", "$ 1050", "$ 2804" ], [ "capital leases", "36", "35", "1", "1", "1", "2014", "74" ], [ "long-term debt ( 1 )", "46", "145", "79", "56", "37", "1488", "1851" ], [ "endorsement contracts ( 2 )", "991", "787", "672", "524", "349", "1381", "4704" ], [ "product purchase obligations ( 3 )", "3688", "2014", "2014", "2014", "2014", "2014", "3688" ], [ "other ( 4 )", "309", "108", "78", "7", "3", "12", "517" ], [ "total", "$ 5497", "$ 1474", "$ 1196", "$ 899", "$ 641", "$ 3931", "$ 13638" ] ]

[ "( 1 ) the 1.20% ( 1.20 % ) $ 650 million note due december 15 , 2016 was redeemed on november 13 , 2014 .", "the senior notes were classified as short-term debt on devon 2019s consolidated balance sheet as of december 31 , 2013 due to certain redemption features in the event that the geosouthern acquisition was not completed on or prior to june 30 , 2014 .", "on february 28 , 2014 , the geosouthern acquisition closed and thus the senior notes were subsequently classified as long-term debt .", "additionally , during december 2013 , devon entered into a term loan agreement with a group of major financial institutions pursuant to which devon could draw up to $ 2.0 billion to finance , in part , the geosouthern acquisition and to pay transaction costs .", "in february 2014 , devon drew the $ 2.0 billion of term loans for the geosouthern transaction , and the amount was subsequently repaid on june 30 , 2014 with the canadian divestiture proceeds that were repatriated to the u.s .", "in june 2014 , at which point the term loan was terminated. ." ]

[ "devon energy corporation and subsidiaries notes to consolidated financial statements 2013 ( continued ) other debentures and notes following are descriptions of the various other debentures and notes outstanding at december 31 , 2014 and 2013 , as listed in the table presented at the beginning of this note .", "geosouthern debt in december 2013 , in conjunction with the planned geosouthern acquisition , devon issued $ 2.25 billion aggregate principal amount of fixed and floating rate senior notes resulting in cash proceeds of approximately $ 2.2 billion , net of discounts and issuance costs .", "the floating rate senior notes due in 2015 bear interest at a rate equal to three-month libor plus 0.45 percent , which rate will be reset quarterly .", "the floating rate senior notes due in 2016 bears interest at a rate equal to three-month libor plus 0.54 percent , which rate will be reset quarterly .", "the schedule below summarizes the key terms of these notes ( in millions ) . ." ]

[ "floating rate due december 15 2015 the floating rate due december 15 2016 of $ 500 is 350 ;" ]

[ [ "floating rate due december 15 2015", "$ 500" ], [ "floating rate due december 15 2016", "350" ], [ "1.20% ( 1.20 % ) due december 15 2016 ( 1 )", "650" ], [ "2.25% ( 2.25 % ) due december 15 2018", "750" ], [ "discount and issuance costs", "-2 ( 2 )" ], [ "net proceeds", "$ 2248" ] ]

[ "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 delivered in 2015 compared to seven delivered in 2014 ) .", "the increases were partially offset by lower net sales of approximately $ 350 million for the c-130 program due to fewer aircraft deliveries ( 21 aircraft delivered in 2015 , compared to 24 delivered in 2014 ) , lower sustainment activities and aircraft contract mix ; approximately $ 200 million due to decreased volume and lower risk retirements on various programs ; approximately $ 195 million for the f-16 program due to fewer deliveries ( 11 aircraft delivered in 2015 , compared to 17 delivered in 2014 ) ; and approximately $ 190 million for the f-22 program as a result of decreased sustainment activities .", "aeronautics 2019 operating profit in 2015 increased $ 32 million , or 2% ( 2 % ) , compared to 2014 .", "operating profit increased by approximately $ 240 million for f-35 production contracts due to increased volume and risk retirements ; and approximately $ 40 million for the c-5 program due to increased risk retirements .", "these increases were offset by lower operating profit of approximately $ 90 million for the f-22 program due to lower risk retirements ; approximately $ 70 million for the c-130 program as a result of the reasons stated above for lower net sales ; and approximately $ 80 million due to decreased volume and risk retirements on various programs .", "adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 100 million higher in 2015 compared to 2014 .", "2014 compared to 2013 aeronautics 2019 net sales increased $ 797 million , or 6% ( 6 % ) , in 2014 as compared to 2013 .", "the increase was primarily attributable to higher net sales of approximately $ 790 million for f-35 production contracts due to increased volume and sustainment activities ; about $ 55 million for the f-16 program due to increased deliveries ( 17 aircraft delivered in 2014 compared to 13 delivered in 2013 ) partially offset by contract mix ; and approximately $ 45 million for the f-22 program due to increased risk retirements .", "the increases were partially offset by lower net sales of approximately $ 55 million for the f-35 development contract due to decreased volume , partially offset by the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; and about $ 40 million for the c-130 program due to fewer deliveries ( 24 aircraft delivered in 2014 compared to 25 delivered in 2013 ) and decreased sustainment activities , partially offset by contract mix .", "aeronautics 2019 operating profit increased $ 37 million , or 2% ( 2 % ) , in 2014 as compared to 2013 .", "the increase was primarily attributable to higher operating profit of approximately $ 85 million for the f-35 development contract due to the absence in 2014 of the downward revision to the profit booking rate that occurred in 2013 ; about $ 75 million for the f-22 program due to increased risk retirements ; approximately $ 50 million for the c-130 program due to increased risk retirements and contract mix , partially offset by fewer deliveries ; and about $ 25 million for the c-5 program due to the absence in 2014 of the downward revisions to the profit booking rate that occurred in 2013 .", "the increases were partially offset by lower operating profit of approximately $ 130 million for the f-16 program due to decreased risk retirements , partially offset by increased deliveries ; and about $ 70 million for sustainment activities due to decreased risk retirements and volume .", "operating profit was comparable for f-35 production contracts as higher volume was offset by lower risk retirements .", "adjustments not related to volume , including net profit booking rate adjustments and other matters , were approximately $ 105 million lower for 2014 compared to 2013. ." ]

[ "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 ) : ." ]

[ "the backlog at year-end of 2015 is $ 31800 ; the backlog at year-end of 2014 is $ 27600 ; the backlog at year-end of 2013 is $ 28000 ;" ]

[ [ "", "2015", "2014", "2013" ], [ "net sales", "$ 15570", "$ 14920", "$ 14123" ], [ "operating profit", "1681", "1649", "1612" ], [ "operating margins", "10.8% ( 10.8 % )", "11.1% ( 11.1 % )", "11.4% ( 11.4 % )" ], [ "backlog at year-end", "$ 31800", "$ 27600", "$ 28000" ] ]

[ "net sales for space systems increased by 16% ( 16 % ) in 2006 compared to 2005 .", "during the year , sales growth in satellites and strategic & defensive missile systems ( s&dms ) offset declines in space transportation .", "the $ 1.1 billion growth in satellites sales was mainly due to higher volume on both government and commercial satellite programs .", "there were five commercial satellite deliveries in 2006 compared to no deliveries in 2005 .", "higher volume in both fleet ballistic missile and missile defense programs accounted for the $ 114 million sales increase at s&dms .", "in space transportation , sales declined $ 102 million primarily due to lower volume in government space transportation activities on the titan and external tank programs .", "increased sales on the atlas evolved expendable launch vehicle launch capabilities ( elc ) contract partially offset the lower government space transportation sales .", "net sales for space systems increased by 7% ( 7 % ) in 2005 compared to 2004 .", "during the year , sales growth in satellites and s&dms offset declines in space transportation .", "the $ 410 million increase in satellites sales was due to higher volume on government satellite programs that more than offset declines in commercial satellite activities .", "there were no commercial satellite deliveries in 2005 , compared to four in 2004 .", "increased sales of $ 235 million in s&dms were attributable to the fleet ballistic missile and missile defense programs .", "the $ 180 million decrease in space transportation 2019s sales was mainly due to having three atlas launches in 2005 compared to six in 2004 .", "operating profit for the segment increased 22% ( 22 % ) in 2006 compared to 2005 .", "operating profit increased in satellites , space transportation and s&dms .", "the $ 72 million growth in satellites operating profit was primarily driven by the volume and performance on government satellite programs and commercial satellite deliveries .", "in space transportation , the $ 39 million growth in operating profit was attributable to improved performance on the atlas program resulting from risk reduction activities , including the first quarter definitization of the elc contract .", "in s&dms , the $ 26 million increase in operating profit was due to higher volume and improved performance on both the fleet ballistic missile and missile defense programs .", "operating profit for the segment increased 25% ( 25 % ) in 2005 compared to 2004 .", "operating profit increased in space transportation , s&dms and satellites .", "in space transportation , the $ 60 million increase in operating profit was primarily attributable to improved performance on the atlas vehicle program .", "satellites 2019 operating profit increased $ 35 million due to the higher volume and improved performance on government satellite programs , which more than offset the decreased operating profit due to the decline in commercial satellite deliveries .", "the $ 20 million increase in s&dms was attributable to higher volume on fleet ballistic missile and missile defense programs .", "in december 2006 , we completed a transaction with boeing to form ula , a joint venture which combines the production , engineering , test and launch operations associated with u.s .", "government launches of our atlas launch vehicles and boeing 2019s delta launch vehicles ( see related discussion on our 201cspace business 201d under 201cindustry considerations 201d ) .", "we are accounting for our investment in ula under the equity method of accounting .", "as a result , our share of the net earnings or losses of ula are included in other income and expenses , and we will no longer recognize sales related to launch vehicle services provided to the u.s .", "government .", "in 2006 , we recorded sales to the u.s .", "government for atlas launch services totaling approximately $ 600 million .", "we have retained the right to market commercial atlas launch services .", "we contributed assets to ula , and ula assumed liabilities related to our atlas business in exchange for our 50% ( 50 % ) ownership interest .", "the net book value of the assets contributed and liabilities assumed was approximately $ 200 million at ." ]

[ "operating profit for the segment increased by 15% ( 15 % ) in 2005 compared to 2004 .", "operating profit increased by $ 80 million at m&fc mainly due to improved performance on fire control and air defense programs .", "performance on surface systems programs contributed to an increase in operating profit of $ 50 million at ms2 .", "pt&ts operating profit increased $ 10 million primarily due to improved performance on simulation and training programs .", "the increase in backlog during 2006 over 2005 resulted primarily from increased orders on certain platform integration programs in pt&ts .", "space systems space systems 2019 operating results included the following : ( in millions ) 2006 2005 2004 ." ]

[ "operating profit increased by $ 80 million at m&fc mainly due to improved performance on fire control and air defense programs .", "pt&ts operating profit increased $ 10 million primarily due to improved performance on simulation and training programs ." ]

[ [ "( in millions )", "2006", "2005", "2004" ], [ "net sales", "$ 7923", "$ 6820", "$ 6359" ], [ "operating profit", "746", "609", "489" ], [ "backlog at year-end", "18768", "15925", "16112" ] ]

[ "." ]

[ "morgan stanley notes to consolidated financial statements 2014 ( continued ) lending commitments .", "primary lending commitments are those that are originated by the company whereas secondary lending commitments are purchased from third parties in the market .", "the commitments include lending commitments that are made to investment grade and non-investment grade companies in connection with corporate lending and other business activities .", "commitments for secured lending transactions .", "secured lending commitments are extended by the company to companies and are secured by real estate or other physical assets of the borrower .", "loans made under these arrangements typically are at variable rates and generally provide for over-collateralization based upon the creditworthiness of the borrower .", "forward starting reverse repurchase agreements .", "the company has entered into forward starting securities purchased under agreements to resell ( agreements that have a trade date at or prior to december 31 , 2013 and settle subsequent to period-end ) that are primarily secured by collateral from u.s .", "government agency securities and other sovereign government obligations .", "commercial and residential mortgage-related commitments .", "the company enters into forward purchase contracts involving residential mortgage loans , residential mortgage lending commitments to individuals and residential home equity lines of credit .", "in addition , the company enters into commitments to originate commercial and residential mortgage loans .", "underwriting commitments .", "the company provides underwriting commitments in connection with its capital raising sources to a diverse group of corporate and other institutional clients .", "other lending commitments .", "other commitments generally include commercial lending commitments to small businesses and commitments related to securities-based lending activities in connection with the company 2019s wealth management business segment .", "the company sponsors several non-consolidated investment funds for third-party investors where the company typically acts as general partner of , and investment advisor to , these funds and typically commits to invest a minority of the capital of such funds , with subscribing third-party investors contributing the majority .", "the company 2019s employees , including its senior officers , as well as the company 2019s directors , may participate on the same terms and conditions as other investors in certain of these funds that the company forms primarily for client investment , except that the company may waive or lower applicable fees and charges for its employees .", "the company has contractual capital commitments , guarantees , lending facilities and counterparty arrangements with respect to these investment funds .", "premises and equipment .", "the company has non-cancelable operating leases covering premises and equipment ( excluding commodities operating leases , shown separately ) .", "at december 31 , 2013 , future minimum rental commitments under such leases ( net of subleases , principally on office rentals ) were as follows ( dollars in millions ) : year ended operating premises leases ." ]

[ "year ended the 2014 of operating premises leases is $ 672 ;", "year ended the 2015 of operating premises leases is 656 ;", "year ended the 2016 of operating premises leases is 621 ;" ]

[ [ "year ended", "operating premises leases" ], [ "2014", "$ 672" ], [ "2015", "656" ], [ "2016", "621" ], [ "2017", "554" ], [ "2018", "481" ], [ "thereafter", "2712" ] ]

[ "oil sands mining segment we hold a 20 percent non-operated interest in the aosp , an oil sands mining and upgrading joint venture located in alberta , canada .", "the joint venture produces bitumen from oil sands deposits in the athabasca region utilizing mining techniques and upgrades the bitumen to synthetic crude oils and vacuum gas oil .", "the aosp 2019s mining and extraction assets are located near fort mcmurray , alberta , and include the muskeg river and the jackpine mines .", "gross design capacity of the combined mines is 255000 ( 51000 net to our interest ) barrels of bitumen per day .", "the aosp operations use established processes to mine oil sands deposits from an open-pit mine , extract the bitumen and upgrade it into synthetic crude oils .", "ore is mined using traditional truck and shovel mining techniques .", "the mined ore passes through primary crushers to reduce the ore chunks in size and is then sent to rotary breakers where the ore chunks are further reduced to smaller particles .", "the particles are combined with hot water to create slurry .", "the slurry moves through the extraction process where it separates into sand , clay and bitumen-rich froth .", "a solvent is added to the bitumen froth to separate out the remaining solids , water and heavy asphaltenes .", "the solvent washes the sand and produces clean bitumen that is required for the upgrader to run efficiently .", "the process yields a mixture of solvent and bitumen which is then transported from the mine to the scotford upgrader via the approximately 300-mile corridor pipeline .", "the aosp's scotford upgrader is located at fort saskatchewan , northeast of edmonton , alberta .", "the bitumen is upgraded at scotford using both hydrotreating and hydroconversion processes to remove sulfur and break the heavy bitumen molecules into lighter products .", "blendstocks acquired from outside sources are utilized in the production of our saleable products .", "the upgrader produces synthetic crude oils and vacuum gas oil .", "the vacuum gas oil is sold to an affiliate of the operator under a long-term contract at market-related prices , and the other products are sold in the marketplace .", "as of december 31 , 2014 , we own or have rights to participate in developed and undeveloped leases totaling approximately 163000 gross ( 33000 net ) acres .", "the underlying developed leases are held for the duration of the project , with royalties payable to the province of alberta .", "synthetic crude oil sales volumes for 2014 averaged 50 mbbld and net-of-royalty production was 41 mbbld .", "in december 2013 , a jackpine mine expansion project received conditional approval from the canadian government .", "the project includes additional mining areas , associated processing facilities and infrastructure .", "the government conditions relate to wildlife , the environment and aboriginal health issues .", "we will evaluate the potential expansion project and government conditions after infrastructure reliability initiatives are completed .", "the governments of alberta and canada have agreed to partially fund quest ccs for $ 865 million canadian .", "in the third quarter of 2012 , the energy and resources conservation board ( \"ercb\" ) , alberta's primary energy regulator at that time , conditionally approved the project and the aosp partners approved proceeding to construct and operate quest ccs .", "government funding commenced in 2012 and continued as milestones were achieved during the development , construction and operating phases .", "failure of the aosp to meet certain timing , performance and operating objectives may result in repaying some of the government funding .", "construction and commissioning of quest ccs is expected to be completed by late 2015. ." ]

[ "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 many of these licenses and concession areas or retain leases through operational or administrative actions .", "net undeveloped acres expiring year ended december 31 ." ]

[ "( in thousands ) the u.s . of net undeveloped acres expiring year ended december 31 , 2015 is 211 ; the u.s . of net undeveloped acres expiring year ended december 31 , 2016 is 150 ; the u.s . of net undeveloped acres expiring year ended december 31 , 2017 is 94 ;", "( in thousands ) the total of net undeveloped acres expiring year ended december 31 , 2015 is 2285 ; the total of net undeveloped acres expiring year ended december 31 , 2016 is 1652 ; the total of net undeveloped acres expiring year ended december 31 , 2017 is 1183 ;" ]

[ [ "( in thousands )", "net undeveloped acres expiring year ended december 31 , 2015", "net undeveloped acres expiring year ended december 31 , 2016", "net undeveloped acres expiring year ended december 31 , 2017" ], [ "u.s .", "211", "150", "94" ], [ "e.g .", "36", "2014", "2014" ], [ "other africa", "1950", "1502", "1089" ], [ "total africa", "1986", "1502", "1089" ], [ "other international", "88", "2014", "2014" ], [ "total", "2285", "1652", "1183" ] ]

[ "on february 29 , 2008 , the closing price of our class a common stock was $ 38.44 per share as reported on the nyse .", "as of february 29 , 2008 , we had 395748826 outstanding shares of class a common stock and 528 registered holders .", "dividends we have never paid a dividend on any class of 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 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 .", "for more information about the restrictions under the loan agreement for the revolving credit facility , our notes indentures and the loan agreement related to the securitization , 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 3 to our consolidated financial statements included in this annual report. ." ]

[ "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 class a common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2007 and 2006. ." ]

[ "as of february 29 , 2008 , we had 395748826 outstanding shares of class a common stock and 528 registered holders ." ]

[ [ "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" ], [ "2006", "high", "low" ], [ "quarter ended march 31", "$ 32.68", "$ 26.66" ], [ "quarter ended june 30", "35.75", "27.35" ], [ "quarter ended september 30", "36.92", "29.98" ], [ "quarter ended december 31", "38.74", "35.21" ] ]

[ "." ]

[ "for additional information on segment results see page 43 .", "income from equity method investments increased by $ 126 million in 2006 from 2005 and increased by $ 98 million in 2005 from 2004 .", "income from our lpg operations in equatorial guinea increased in both periods due to higher sales volumes as a result of the plant expansions completed in 2005 .", "the increase in 2005 also included higher ptc income as a result of higher distillate gross margins .", "cost of revenues increased $ 4.609 billion in 2006 from 2005 and $ 7.106 billion in 2005 from 2004 .", "in both periods the increases were primarily in the rm&t segment and resulted from increases in acquisition costs of crude oil , refinery charge and blend stocks and purchased refined products .", "the increase in both periods was also impacted by higher manufacturing expenses , primarily the result of higher contract services and labor costs in 2006 and higher purchased energy costs in 2005 .", "purchases related to matching buy/sell transactions decreased $ 6.968 billion in 2006 from 2005 and increased $ 3.314 billion in 2005 from 2004 , mostly in the rm&t segment .", "the decrease in 2006 was primarily related to the change in accounting for matching buy/sell transactions discussed above .", "the increase in 2005 was primarily due to increased crude oil prices .", "depreciation , depletion and amortization increased $ 215 million in 2006 from 2005 and $ 125 million in 2005 from 2004 .", "rm&t segment depreciation expense increased in both years as a result of the increase in asset value recorded for our acquisition of the 38 percent interest in mpc on june 30 , 2005 .", "in addition , the detroit refinery expansion completed in the fourth quarter of 2005 contributed to the rm&t depreciation expense increase in 2006 .", "e&p segment depreciation expense for 2006 included a $ 20 million impairment of capitalized costs related to the camden hills field in the gulf of mexico and the associated canyon express pipeline .", "natural gas production from the camden hills field ended in 2006 as a result of increased water production from the well .", "selling , general and administrative expenses increased $ 73 million in 2006 from 2005 and $ 134 million in 2005 from 2004 .", "the 2006 increase was primarily because personnel and staffing costs increased throughout the year primarily as a result of variable compensation arrangements and increased business activity .", "partially offsetting these increases were reductions in stock-based compensation expense .", "the increase in 2005 was primarily a result of increased stock-based compensation expense , due to the increase in our stock price during that year as well as an increase in equity-based awards , which was partially offset by a decrease in expense as a result of severance and pension plan curtailment charges and start-up costs related to egholdings in 2004 .", "exploration expenses increased $ 148 million in 2006 from 2005 and $ 59 million in 2005 from 2004 .", "exploration expense related to dry wells and other write-offs totaled $ 166 million , $ 111 million and $ 47 million in 2006 , 2005 and 2004 .", "exploration expense in 2006 also included $ 47 million for exiting the cortland and empire leases in nova scotia .", "net interest and other financing costs ( income ) reflected a net $ 37 million of income for 2006 , a favorable change of $ 183 million from the net $ 146 million expense in 2005 .", "net interest and other financing costs decreased $ 16 million in 2005 from 2004 .", "the favorable changes in 2006 included increased interest income due to higher interest rates and average cash balances , foreign currency exchange gains , adjustments to interest on tax issues and greater capitalized interest .", "the decrease in expense for 2005 was primarily a result of increased interest income on higher average cash balances and greater capitalized interest , partially offset by increased interest on potential tax deficiencies and higher foreign exchange losses .", "included in net interest and other financing costs ( income ) are foreign currency gains of $ 16 million , losses of $ 17 million and gains of $ 9 million for 2006 , 2005 and 2004 .", "minority interest in income of mpc decreased $ 148 million in 2005 from 2004 due to our acquisition of the 38 percent interest in mpc on june 30 , 2005 .", "provision for income taxes increased $ 2.308 billion in 2006 from 2005 and $ 979 million in 2005 from 2004 , primarily due to the $ 4.259 billion and $ 2.691 billion increases in income from continuing operations before income taxes .", "the increase in our effective income tax rate in 2006 was primarily a result of the income taxes related to our libyan operations , where the statutory income tax rate is in excess of 90 percent .", "the following is an analysis of the effective income tax rates for continuing operations for 2006 , 2005 and 2004 .", "see note 11 to the consolidated financial statements for further discussion. ." ]

[ "the effects of foreign operations including foreign tax credits of 2006 is 9.9 ; the effects of foreign operations including foreign tax credits of 2005 is -0.8 ( 0.8 ) ; the effects of foreign operations including foreign tax credits of 2004 is 0.5 ;" ]

[ [ "", "2006", "2005", "2004" ], [ "statutory u.s . income tax rate", "35.0% ( 35.0 % )", "35.0% ( 35.0 % )", "35.0% ( 35.0 % )" ], [ "effects of foreign operations including foreign tax credits", "9.9", "-0.8 ( 0.8 )", "0.5" ], [ "state and local income taxes net of federal income tax effects", "1.9", "2.5", "1.6" ], [ "other tax effects", "-2.0 ( 2.0 )", "-0.4 ( 0.4 )", "-0.9 ( 0.9 )" ], [ "effective income tax rate for continuing operations", "44.8% ( 44.8 % )", "36.3% ( 36.3 % )", "36.2% ( 36.2 % )" ] ]

[ "the discount rate assumption was determined for the pension and postretirement benefit plans independently .", "at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .", "the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .", "historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .", "the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .", "assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .", "based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .", "the company 2019s pension expense increases as the expected return on assets decreases .", "in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .", "the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .", "assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .", "the health care cost trend rate is based on historical rates and expected market conditions .", "a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 105967 $ ( 86179 ) ." ]

[ "the discount rate assumption was determined for the pension and postretirement benefit plans independently .", "at year-end 2011 , the company began using an approach that approximates the process of settlement of obligations tailored to the plans 2019 expected cash flows by matching the plans 2019 cash flows to the coupons and expected maturity values of individually selected bonds .", "the yield curve was developed for a universe containing the majority of u.s.-issued aa-graded corporate bonds , all of which were non callable ( or callable with make-whole provisions ) .", "historically , for each plan , the discount rate was developed as the level equivalent rate that would produce the same present value as that using spot rates aligned with the projected benefit payments .", "the expected long-term rate of return on plan assets is based on historical and projected rates of return , prior to administrative and investment management fees , for current and planned asset classes in the plans 2019 investment portfolios .", "assumed projected rates of return for each of the plans 2019 projected asset classes were selected after analyzing historical experience and future expectations of the returns and volatility of the various asset classes .", "based on the target asset allocation for each asset class , the overall expected rate of return for the portfolio was developed , adjusted for historical and expected experience of active portfolio management results compared to the benchmark returns and for the effect of expenses paid from plan assets .", "the company 2019s pension expense increases as the expected return on assets decreases .", "in the determination of year end 2014 projected benefit plan obligations , the company adopted a new table based on the society of actuaries rp 2014 mortality table including a generational bb-2d projection scale .", "the adoption resulted in a significant increase to pension and other postretirement benefit plans 2019 projected benefit obligations .", "assumed health care cost trend rates have a significant effect on the amounts reported for the other postretirement benefit plans .", "the health care cost trend rate is based on historical rates and expected market conditions .", "a one-percentage-point change in assumed health care cost trend rates would have the following effects : one-percentage-point increase one-percentage-point decrease effect on total of service and interest cost components .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 5943 $ ( 4887 ) effect on other postretirement benefit obligation .", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", ".", "$ 105967 $ ( 86179 ) ." ]

[ "the effect on total of service and interest cost components of one-percentage-point increase is $ 5943 ; the effect on total of service and interest cost components of one-percentage-point decrease is $ -4887 ( 4887 ) ;", "the effect on other postretirement benefit obligation of one-percentage-point increase is $ 105967 ; the effect on other postretirement benefit obligation of one-percentage-point decrease is $ -86179 ( 86179 ) ;" ]

[ [ "", "one-percentage-point increase", "one-percentage-point decrease" ], [ "effect on total of service and interest cost components", "$ 5943", "$ -4887 ( 4887 )" ], [ "effect on other postretirement benefit obligation", "$ 105967", "$ -86179 ( 86179 )" ] ]

[ "included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.6 million of tax benefits that , if recognized , would affect the effective tax rate .", "also included in the balance of unrecognized tax benefits at december 31 , 2008 are $ 5.0 million of tax benefits that , if recognized , would result in a decrease to goodwill recorded in purchase business combinations , and $ 1.9 million of tax benefits that , if recognized , would result in adjustments to other tax accounts , primarily deferred taxes .", "the company believes it is reasonably possible that uncertain tax positions of approximately $ 2.6 million as of december 31 , 2008 will be resolved within the next twelve months .", "the company recognizes interest and penalties related to unrecognized tax benefits as income tax expense .", "related to the uncertain tax benefits noted above , the company recorded interest of $ 171000 during 2008 .", "penalties recorded during 2008 were insignificant .", "in total , as of december 31 , 2008 , the company has recognized a liability for penalties of $ 498000 and interest of $ 1.8 million .", "the company is subject to taxation in the u.s .", "and various states and foreign jurisdictions .", "the company 2019s 2005 through 2008 tax years are open to examination by the internal revenue service .", "the 2005 and 2006 federal returns are currently under examination .", "the company also has various foreign subsidiaries with tax filings under examination , as well as numerous foreign and state tax filings subject to examination for various years .", "10 .", "pension and profit-sharing plans the company has 401 ( k ) /profit-sharing plans for all qualifying full-time domestic employees that permit participants to make contributions by salary reduction pursuant to section 401 ( k ) of the internal revenue code .", "the company makes matching contributions on behalf of each eligible participant in an amount equal to 100% ( 100 % ) of the first 3% ( 3 % ) and an additional 25% ( 25 % ) of the next 5% ( 5 % ) , for a maximum total of 4.25% ( 4.25 % ) of the employee 2019s compensation .", "the company may make a discretionary profit sharing contribution in the amount of 0% ( 0 % ) to 5% ( 5 % ) based on the participant 2019s eligible compensation , provided the employee is employed at the end of the year and has worked at least 1000 hours .", "the qualifying domestic employees of the company 2019s ansoft subsidiary , acquired on july 31 , 2008 , also participate in a 401 ( k ) plan .", "there is no matching employer contribution associated with this plan .", "the company also maintains various defined contribution pension arrangements for its international employees .", "expenses related to the company 2019s retirement programs were $ 3.7 million in 2008 , $ 4.7 million in 2007 and $ 4.1 million in 2006 .", "11 .", "non-compete and employment agreements employees of the company have signed agreements under which they have agreed not to disclose trade secrets or confidential information and , where legally permitted , that restrict engagement in or connection with any business that is competitive with the company anywhere in the world while employed by the company ( and ." ]

[ "the following is a reconciliation of the total amounts of unrecognized tax benefits for the year : ( in thousands ) ." ]

[ "unrecognized tax benefit 2014january 1 2008 the unrecognized tax benefit 2014december 31 2008 of $ 7928 is $ 12416 ;" ]

[ [ "unrecognized tax benefit 2014january 1 2008", "$ 7928" ], [ "ansoft unrecognized tax benefit 2014acquired july 31 2008", "3525" ], [ "gross increases 2014tax positions in prior period", "2454" ], [ "gross decreases 2014tax positions in prior period", "-1572 ( 1572 )" ], [ "gross increases 2014tax positions in current period", "2255" ], [ "reductions due to a lapse of the applicable statute of limitations", "-1598 ( 1598 )" ], [ "changes due to currency fluctuation", "-259 ( 259 )" ], [ "settlements", "-317 ( 317 )" ], [ "unrecognized tax benefit 2014december 31 2008", "$ 12416" ] ]

[ "in the chart above , the unit shares and related weighted- average grant-date fair value of the incentive/performance awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash .", "at december 31 , 2011 , there was $ 61 million of unrecognized deferred compensation expense related to nonvested share- based compensation arrangements granted under the incentive plans .", "this cost is expected to be recognized as expense over a period of no longer than five years .", "the total fair value of incentive/performance unit share and restricted stock/unit awards vested during 2011 , 2010 and 2009 was approximately $ 52 million , $ 39 million and $ 47 million , respectively .", "liability awards we grant annually cash-payable restricted share units to certain executives .", "the grants were made primarily as part of an annual bonus incentive deferral plan .", "while there are time- based and service-related vesting criteria , there are no market or performance criteria associated with these awards .", "compensation expense recognized related to these awards was recorded in prior periods as part of annual cash bonus criteria .", "as of december 31 , 2011 , there were 753203 of these cash- payable restricted share units outstanding .", "174 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ "there were no options granted in excess of market value in 2011 , 2010 or 2009 .", "shares of common stock available during the next year for the granting of options and other awards under the incentive plans were 33775543 at december 31 , 2011 .", "total shares of pnc common stock authorized for future issuance under equity compensation plans totaled 35304422 shares at december 31 , 2011 , which includes shares available for issuance under the incentive plans and the employee stock purchase plan ( espp ) as described below .", "during 2011 , we issued 731336 shares from treasury stock in connection with stock option exercise activity .", "as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .", "awards granted to non-employee directors in 2011 , 2010 and 2009 include 27090 , 29040 , and 39552 deferred stock units , respectively , awarded under the outside directors deferred stock unit plan .", "a deferred stock unit is a phantom share of our common stock , which requires liability accounting treatment until such awards are paid to the participants as cash .", "as there are no vesting or service requirements on these awards , total compensation expense is recognized in full on awarded deferred stock units on the date of grant .", "incentive/performance unit share awards and restricted stock/unit awards the fair value of nonvested incentive/performance unit share awards and restricted stock/unit awards is initially determined based on prices not less than the market value of our common stock price on the date of grant .", "the value of certain incentive/ performance unit share awards is subsequently remeasured based on the achievement of one or more financial and other performance goals generally over a three-year period .", "the personnel and compensation committee of the board of directors approves the final award payout with respect to incentive/performance unit share awards .", "restricted stock/unit awards have various vesting periods generally ranging from 36 months to 60 months .", "beginning in 2011 , we incorporated two changes to certain awards under our existing long-term incentive compensation programs .", "first , for certain grants of incentive performance units , the future payout amount will be subject to a negative annual adjustment if pnc fails to meet certain risk-related performance metrics .", "this adjustment is in addition to the existing financial performance metrics relative to our peers .", "these grants have a three-year performance period and are payable in either stock or a combination of stock and cash .", "second , performance-based restricted share units ( performance rsus ) were granted in 2011 to certain of our executives in lieu of stock options .", "these performance rsus ( which are payable solely in stock ) have a service condition , an internal risk-related performance condition , and an external market condition .", "satisfaction of the performance condition is based on four independent one-year performance periods .", "the weighted-average grant-date fair value of incentive/ performance unit share awards and restricted stock/unit awards granted in 2011 , 2010 and 2009 was $ 63.25 , $ 54.59 and $ 41.16 per share , respectively .", "we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .", "nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair ." ]

[ "shares in thousands december 31 2010 the december 31 2011 of nonvested incentive/ performance unit shares 363 is 830 ; the december 31 2011 of weighted- average grant date fair value $ 56.40 is $ 61.68 ; the december 31 2011 of nonvested restricted stock/ unit shares 2250 is 2512 ; the december 31 2011 of weighted- average grant date fair value $ 49.95 is $ 54.87 ;", "nonvested incentive/performance unit share awards and restricted stock/unit awards 2013 rollforward shares in thousands nonvested incentive/ performance unit shares weighted- average date fair nonvested restricted stock/ shares weighted- average date fair ." ]

[ [ "shares in thousands december 31 2010", "nonvested incentive/ performance unit shares 363", "weighted- average grant date fair value $ 56.40", "nonvested restricted stock/ unit shares 2250", "weighted- average grant date fair value $ 49.95" ], [ "granted", "623", "64.21", "1059", "62.68" ], [ "vested", "-156 ( 156 )", "59.54", "-706 ( 706 )", "51.27" ], [ "forfeited", "", "", "-91 ( 91 )", "52.24" ], [ "december 31 2011", "830", "$ 61.68", "2512", "$ 54.87" ] ]

[ "the total cross-border outstandings presented in the table represented 5% ( 5 % ) , 12% ( 12 % ) and 9% ( 9 % ) of our consolidated total assets as of december 31 , 2008 , 2007 and 2006 , respectively .", "aggregate cross-border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets at december 31 , 2008 amounted to $ 3.45 billion ( canada and germany ) .", "there were no cross-border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets as of december 31 , 2007 .", "aggregate cross-border outstandings to countries which totaled between .75% ( .75 % ) and 1% ( 1 % ) of our consolidated total assets at december 31 , 2006 amounted to $ 1.05 billion ( canada ) .", "capital regulatory and economic capital management both use key metrics evaluated by management to assess whether our actual level of capital is commensurate with our risk profile , is in compliance with all regulatory requirements , and is sufficient to provide us with the financial flexibility to undertake future strategic business initiatives .", "regulatory capital our objective with respect to regulatory capital management is to maintain a strong capital base in order to provide financial flexibility for our business needs , including funding corporate growth and supporting customers 2019 cash management needs , and to provide protection against loss to depositors and creditors .", "we strive to maintain an optimal level of capital , commensurate with our risk profile , on which an attractive return to shareholders will be realized over both the short and long term , while protecting our obligations to depositors and creditors and satisfying regulatory requirements .", "our capital management process focuses on our risk exposures , our capital position relative to our peers , regulatory capital requirements and the evaluations of the major independent credit rating agencies that assign ratings to our public debt .", "our capital committee , working in conjunction with our asset and liability committee , referred to as alco , oversees the management of regulatory capital , and is responsible for ensuring capital adequacy with respect to regulatory requirements , internal targets and the expectations of the major independent credit rating agencies .", "the primary regulator of both state street and state street bank for regulatory capital purposes is the federal reserve .", "both state street and state street bank are subject to the minimum capital requirements established by the federal reserve and defined in the federal deposit insurance corporation improvement act ." ]

[ "cross-border outstandings cross-border outstandings , as defined by bank regulatory rules , are amounts payable to state street by residents of foreign countries , regardless of the currency in which the claim is denominated , and local country claims in excess of local country obligations .", "these cross-border outstandings consist primarily of deposits with banks , loan and lease financing and investment securities .", "in addition to credit risk , cross-border outstandings have the risk that , as a result of political or economic conditions in a country , borrowers may be unable to meet their contractual repayment obligations of principal and/or interest when due because of the unavailability of , or restrictions on , foreign exchange needed by borrowers to repay their obligations .", "cross-border outstandings to countries in which we do business which amounted to at least 1% ( 1 % ) of our consolidated total assets were as follows as of december 31: ." ]

[ "( in millions ) the total cross-border outstandings of 2008 is $ 7880 ; the total cross-border outstandings of 2007 is $ 17027 ; the total cross-border outstandings of 2006 is $ 9746 ;", "the total cross-border outstandings presented in the table represented 5% ( 5 % ) , 12% ( 12 % ) and 9% ( 9 % ) of our consolidated total assets as of december 31 , 2008 , 2007 and 2006 , respectively ." ]

[ [ "( in millions )", "2008", "2007", "2006" ], [ "united kingdom", "$ 5836", "$ 5951", "$ 5531" ], [ "australia", "2044", "3567", "1519" ], [ "canada", "2014", "4565", "2014" ], [ "germany", "2014", "2944", "2696" ], [ "total cross-border outstandings", "$ 7880", "$ 17027", "$ 9746" ] ]

[ "( a ) the deferred tax effect related to the enactment of a supplemental tax in the u.k .", "increased the effective tax rate 7.0 percent in 2002. ." ]

[ "expenditures and acquisitions of leased properties are funded by the original contributor of the assets , but no change in ownership interest may result from these contributions .", "an excess of ashland funded improvements over marathon funded improvements results in a net gain and an excess of marathon funded improvements over ashland funded improvements results in a net loss .", "cost of revenues increased by $ 8.718 billion in 2003 from 2002 and $ 367 million in 2002 from 2001 .", "the increases in the oerb segment were primarily a result of higher natural gas and liquid hydrocarbon costs .", "the increases in the rm&t segment primarily reflected higher acquisition costs for crude oil , refined products , refinery charge and blend feedstocks and increased manufacturing expenses .", "selling , general and administrative expenses increased by $ 107 million in 2003 from 2002 and $ 125 million in 2002 from 2001 .", "the increase in 2003 was primarily a result of increased employee benefits ( caused by increased pension expense resulting from changes in actuarial assumptions and a decrease in realized returns on plan assets ) and other employee related costs .", "also , marathon changed assumptions in the health care cost trend rate from 7.5% ( 7.5 % ) to 10% ( 10 % ) , resulting in higher retiree health care costs .", "additionally , during 2003 , marathon recorded a charge of $ 24 million related to organizational and business process changes .", "the increase in 2002 primarily reflected increased employee related costs .", "inventory market valuation reserve is established to reduce the cost basis of inventories to current market value .", "the 2002 results of operations include credits to income from operations of $ 71 million , reversing the imv reserve at december 31 , 2001 .", "for additional information on this adjustment , see 201cmanagement 2019s discussion and analysis of critical accounting estimates 2013 net realizable value of inventories 201d on page 31 .", "net interest and other financial costs decreased by $ 82 million in 2003 from 2002 , following an increase of $ 96 million in 2002 from 2001 .", "the decrease in 2003 is primarily due to an increase in capitalized interest related to increased long-term construction projects , the favorable effect of interest rate swaps , the favorable effect of interest on tax deficiencies and increased interest income on investments .", "the increase in 2002 was primarily due to higher average debt levels resulting from acquisitions and the separation .", "additionally , included in net interest and other financing costs are foreign currency gains of $ 13 million and $ 8 million for 2003 and 2002 and losses of $ 5 million for 2001 .", "loss from early extinguishment of debt in 2002 was attributable to the retirement of $ 337 million aggregate principal amount of debt , resulting in a loss of $ 53 million .", "as a result of the adoption of statement of financial accounting standards no .", "145 201crescission of fasb statements no .", "4 , 44 , and 64 , amendment of fasb statement no .", "13 , and technical corrections 201d ( 201csfas no .", "145 201d ) , the loss from early extinguishment of debt that was previously reported as an extraordinary item ( net of taxes of $ 20 million ) has been reclassified into income before income taxes .", "the adoption of sfas no .", "145 had no impact on net income for 2002 .", "minority interest in income of map , which represents ashland 2019s 38 percent ownership interest , increased by $ 129 million in 2003 from 2002 , following a decrease of $ 531 million in 2002 from 2001 .", "map income was higher in 2003 compared to 2002 as discussed below in the rm&t segment .", "map income was significantly lower in 2002 compared to 2001 as discussed below in the rm&t segment .", "provision for income taxes increased by $ 215 million in 2003 from 2002 , following a decrease of $ 458 million in 2002 from 2001 , primarily due to $ 720 million increase and $ 1.356 billion decrease in income before income taxes .", "the effective tax rate for 2003 was 36.6% ( 36.6 % ) compared to 42.1% ( 42.1 % ) and 37.1% ( 37.1 % ) for 2002 and 2001 .", "the higher rate in 2002 was due to the united kingdom enactment of a supplementary 10 percent tax on profits from the north sea oil and gas production , retroactively effective to april 17 , 2002 .", "in 2002 , marathon recognized a one-time noncash deferred tax adjustment of $ 61 million as a result of the rate increase .", "the following is an analysis of the effective tax rate for the periods presented: ." ]

[ "the effective tax rate of 2003 is 36.6% ( 36.6 % ) ; the effective tax rate of 2002 is 42.1% ( 42.1 % ) ; the effective tax rate of 2001 is 37.1% ( 37.1 % ) ;" ]

[ [ "", "2003", "2002", "2001" ], [ "statutory tax rate", "35.0% ( 35.0 % )", "35.0% ( 35.0 % )", "35.0% ( 35.0 % )" ], [ "effects of foreign operations ( a )", "-0.4 ( 0.4 )", "5.6", "-0.7 ( 0.7 )" ], [ "state and local income taxes after federal income tax effects", "2.2", "3.9", "3.0" ], [ "other federal tax effects", "-0.2 ( 0.2 )", "-2.4 ( 2.4 )", "-0.2 ( 0.2 )" ], [ "effective tax rate", "36.6% ( 36.6 % )", "42.1% ( 42.1 % )", "37.1% ( 37.1 % )" ] ]

[ "( a ) the prior period amounts have been revised to conform with the current period presentation. ." ]

[ "management 2019s discussion and analysis 126 jpmorgan chase & co./2014 annual report while useful as a current view of credit exposure , the net fair value of the derivative receivables does not capture the potential future variability of that credit exposure .", "to capture the potential future variability of credit exposure , the firm calculates , on a client-by-client basis , three measures of potential derivatives-related credit loss : peak , derivative risk equivalent ( 201cdre 201d ) , and average exposure ( 201cavg 201d ) .", "these measures all incorporate netting and collateral benefits , where applicable .", "peak exposure to a counterparty is an extreme measure of exposure calculated at a 97.5% ( 97.5 % ) confidence level .", "dre exposure is a measure that expresses the risk of derivative exposure on a basis intended to be equivalent to the risk of loan exposures .", "the measurement is done by equating the unexpected loss in a derivative counterparty exposure ( which takes into consideration both the loss volatility and the credit rating of the counterparty ) with the unexpected loss in a loan exposure ( which takes into consideration only the credit rating of the counterparty ) .", "dre is a less extreme measure of potential credit loss than peak and is the primary measure used by the firm for credit approval of derivative transactions .", "finally , avg is a measure of the expected fair value of the firm 2019s derivative receivables at future time periods , including the benefit of collateral .", "avg exposure over the total life of the derivative contract is used as the primary metric for pricing purposes and is used to calculate credit capital and the cva , as further described below .", "the three year avg exposure was $ 37.5 billion and $ 35.4 billion at december 31 , 2014 and 2013 , respectively , compared with derivative receivables , net of all collateral , of $ 59.4 billion and $ 51.3 billion at december 31 , 2014 and 2013 , respectively .", "the fair value of the firm 2019s derivative receivables incorporates an adjustment , the cva , to reflect the credit quality of counterparties .", "the cva is based on the firm 2019s avg to a counterparty and the counterparty 2019s credit spread in the credit derivatives market .", "the primary components of changes in cva are credit spreads , new deal activity or unwinds , and changes in the underlying market environment .", "the firm believes that active risk management is essential to controlling the dynamic credit risk in the derivatives portfolio .", "in addition , the firm 2019s risk management process takes into consideration the potential impact of wrong-way risk , which is broadly defined as the potential for increased correlation between the firm 2019s exposure to a counterparty ( avg ) and the counterparty 2019s credit quality .", "many factors may influence the nature and magnitude of these correlations over time .", "to the extent that these correlations are identified , the firm may adjust the cva associated with that counterparty 2019s avg .", "the firm risk manages exposure to changes in cva by entering into credit derivative transactions , as well as interest rate , foreign exchange , equity and commodity derivative transactions .", "the accompanying graph shows exposure profiles to the firm 2019s current derivatives portfolio over the next 10 years as calculated by the dre and avg metrics .", "the two measures generally show that exposure will decline after the first year , if no new trades are added to the portfolio .", "the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated .", "the ratings scale is based on the firm 2019s internal ratings , which generally correspond to the ratings as defined by s&p and moody 2019s .", "ratings profile of derivative receivables rating equivalent 2014 2013 ( a ) december 31 , ( in millions , except ratios ) exposure net of all collateral % ( % ) of exposure net of all collateral exposure net of all collateral % ( % ) of exposure net of all collateral ." ]

[ "rating equivalent december 31 ( in millions except ratios ) the a+/a1 to a-/a3 of rating equivalent exposure net of all collateral is 13940 ; the a+/a1 to a-/a3 of rating equivalent % ( % ) of exposure net of all collateral is 24 ; the a+/a1 to a-/a3 of exposure net of all collateral is 12930 ; the a+/a1 to a-/a3 of % ( % ) of exposure net of all collateral is 25 ;", "rating equivalent december 31 ( in millions except ratios ) the total of rating equivalent exposure net of all collateral is $ 59371 ; the total of rating equivalent % ( % ) of exposure net of all collateral is 100% ( 100 % ) ; the total of exposure net of all collateral is $ 51324 ; the total of % ( % ) of exposure net of all collateral is 100% ( 100 % ) ;" ]

[ [ "rating equivalent december 31 ( in millions except ratios )", "rating equivalent exposure net of all collateral", "rating equivalent % ( % ) of exposure net of all collateral", "exposure net of all collateral", "% ( % ) of exposure net of all collateral" ], [ "aaa/aaa to aa-/aa3", "$ 19202", "32% ( 32 % )", "$ 12953", "25% ( 25 % )" ], [ "a+/a1 to a-/a3", "13940", "24", "12930", "25" ], [ "bbb+/baa1 to bbb-/baa3", "19008", "32", "15220", "30" ], [ "bb+/ba1 to b-/b3", "6384", "11", "6806", "13" ], [ "ccc+/caa1 and below", "837", "1", "3415", "7" ], [ "total", "$ 59371", "100% ( 100 % )", "$ 51324", "100% ( 100 % )" ] ]

[ "we were insured under policies that provided coverage of certain costs associated with this event .", "the policies provided a total of $ 30.0 million in policy limits and contained various sub-limits of liability and other terms , conditions and limitations , including a $ 1.0 million deductible per claim .", "as of fiscal year 2013 , we received assessments from certain networks and submitted additional claims to the insurers and recorded $ 20.0 million in additional insurance recoveries based on our negotiations with our insurers .", "we will record receivables for any additional recoveries in the periods in which we determine such recovery is probable and the amount can be reasonably estimated .", "a class action arising out of the processing system intrusion was filed against us on april 4 , 2012 by natalie willingham ( individually and on behalf of a putative nationwide class ) ( the 201cplaintiff 201d ) .", "specifically , ms .", "willingham alleged that we failed to maintain reasonable and adequate procedures to protect her personally identifiable information ( 201cpii 201d ) which she claims resulted in two fraudulent charges on her credit card in march 2012 .", "further , ms .", "willingham asserted that we failed to timely notify the public of the data breach .", "based on these allegations , ms .", "willingham asserted claims for negligence , violation of the federal stored communications act , willful violation of the fair credit reporting act , negligent violation of the fair credit reporting act , violation of georgia 2019s unfair and deceptive trade practices act , negligence per se , breach of third-party beneficiary contract , and breach of implied contract .", "ms .", "willingham sought an unspecified amount of damages and injunctive relief .", "the lawsuit was filed in the united states district court for the northern district of georgia .", "on may 14 , 2012 , we filed a motion to dismiss .", "on july 11 , 2012 , plaintiff filed a motion for leave to amend her complaint , and on july 16 , 2012 , the court granted that motion .", "she then filed an amended complaint on july 16 , 2012 .", "the amended complaint did not add any new causes of action .", "instead , it added two new named plaintiffs ( nadine and robert hielscher ) ( together with plaintiff , the 201cplaintiffs 201d ) and dropped plaintiff 2019s claim for negligence per se .", "on august 16 , 2012 , we filed a motion to dismiss the plaintiffs 2019 amended complaint .", "the plaintiffs filed their response in opposition to our motion to dismiss on october 5 , 2012 , and we subsequently filed our reply brief on october 22 , 2012 .", "the magistrate judge issued a report and recommendation recommending dismissal of all of plaintiffs 2019 claims with prejudice .", "the plaintiffs subsequently agreed to voluntarily dismiss the lawsuit with prejudice , with each party bearing its own fees and costs .", "this was the only consideration exchanged by the parties in connection with plaintiffs 2019 voluntary dismissal with prejudice of the lawsuit .", "the lawsuit was dismissed with prejudice on march 6 , 2013 .", "note 3 2014settlement processing assets and obligations we are designated as a merchant service provider by mastercard and an independent sales organization by visa .", "these designations are dependent upon member clearing banks ( 201cmember 201d ) sponsoring us and our adherence to the standards of the networks .", "we have primary financial institution sponsors in the various markets where we facilitate payment transactions with whom we have sponsorship or depository and clearing agreements .", "these agreements allow us to route transactions under the member banks 2019 control and identification numbers to clear credit card transactions through mastercard and visa .", "in certain markets , we are members in various payment networks , allowing us to process and fund transactions without third-party sponsorship. ." ]

[ "our initial estimate of fraud losses , fines and other charges on our understanding of the rules and operating regulations published by the networks and preliminary communications with the networks .", "we have now reached resolution with and made payments to the networks , resulting in charges that were less than our initial estimates .", "the primary difference between our initial estimates and the final charges relates to lower fraud related costs attributed to this event than previously expected .", "the following table reflects the activity in our accrual for fraud losses , fines and other charges for the twelve months ended may 31 , 2013 ( in thousands ) : ." ]

[ "balance at may 31 2012 the payments of $ 67436 is -35655 ( 35655 ) ;" ]

[ [ "balance at may 31 2012", "$ 67436" ], [ "adjustments", "-31781 ( 31781 )" ], [ "subtotal", "35655" ], [ "payments", "-35655 ( 35655 )" ], [ "balance at may 31 2013", "$ 2014" ] ]

[ "[1] excludes expected future minimum sublease income of approximately $ 2 , $ 2 , $ 2 , $ 2 , $ 0 and $ 0 in 2017 , 2018 , 2019 , 2020 , 2021 and thereafter respectively .", "the company 2019s lease commitments consist primarily of lease agreements for office space , automobiles , and office equipment that expire at various dates .", "unfunded commitments as of december 31 , 2016 , the company has outstanding commitments totaling $ 1.6 billion , of which $ 1.2 billion is committed to fund limited partnership and other alternative investments , which may be called by the partnership during the commitment period to fund the purchase of new investments and partnership expenses .", "additionally , $ 313 of the outstanding commitments relate to various funding obligations associated with private placement securities .", "the remaining outstanding commitments of $ 95 relate to mortgage loans the company is expecting to fund in the first half of 2017 .", "guaranty funds and other insurance-related assessments in all states , insurers licensed to transact certain classes of insurance are required to become members of a guaranty fund .", "in most states , in the event of the insolvency of an insurer writing any such class of insurance in the state , the guaranty funds may assess its members to pay covered claims of the insolvent insurers .", "assessments are based on each member 2019s proportionate share of written premiums in the state for the classes of insurance in which the insolvent insurer was engaged .", "assessments are generally limited for any year to one or two percent of the premiums written per year depending on the state .", "some states permit member insurers to recover assessments paid through surcharges on policyholders or through full or partial premium tax offsets , while other states permit recovery of assessments through the rate filing process .", "liabilities for guaranty fund and other insurance-related assessments are accrued when an assessment is probable , when it can be reasonably estimated , and when the event obligating the company to pay an imposed or probable assessment has occurred .", "liabilities for guaranty funds and other insurance- related assessments are not discounted and are included as part of other liabilities in the consolidated balance sheets .", "as of december 31 , 2016 and 2015 the liability balance was $ 134 and $ 138 , respectively .", "as of december 31 , 2016 and 2015 amounts related to premium tax offsets of $ 34 and $ 44 , respectively , were included in other assets .", "derivative commitments certain of the company 2019s derivative agreements contain provisions that are tied to the financial strength ratings , as set by nationally recognized statistical agencies , of the individual legal entity that entered into the derivative agreement .", "if the legal entity 2019s financial strength were to fall below certain ratings , the counterparties to the derivative agreements could demand immediate and ongoing full collateralization and in certain instances enable the counterparties to terminate the agreements and demand immediate settlement of all outstanding derivative positions traded under each impacted bilateral agreement .", "the settlement amount is determined by netting the derivative positions transacted under each agreement .", "if the termination rights were to be exercised by the counterparties , it could impact the legal entity 2019s ability to conduct hedging activities by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity .", "the aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of december 31 , 2016 was $ 1.4 billion .", "of this $ 1.4 billion , the legal entities have posted collateral of $ 1.7 billion in the normal course of business .", "in addition , the company has posted collateral of $ 31 associated with a customized gmwb derivative .", "based on derivative market values as of december 31 , 2016 , a downgrade of one level below the current financial strength ratings by either moody 2019s or s&p would not require additional assets to be posted as collateral .", "based on derivative market values as of december 31 , 2016 , a downgrade of two levels below the current financial strength ratings by either moody 2019s or s&p would require additional $ 10 of assets to be posted as collateral .", "these collateral amounts could change as derivative market values change , as a result of changes in our hedging activities or to the extent changes in contractual terms are negotiated .", "the nature of the collateral that we post , when required , is primarily in the form of u.s .", "treasury bills , u.s .", "treasury notes and government agency securities .", "guarantees in the ordinary course of selling businesses or entities to third parties , the company has agreed to indemnify purchasers for losses arising subsequent to the closing due to breaches of representations and warranties with respect to the business or entity being sold or with respect to covenants and obligations of the company and/or its subsidiaries .", "these obligations are typically subject to various time limitations , defined by the contract or by operation of law , such as statutes of limitation .", "in some cases , the maximum potential obligation is subject to contractual limitations , while in other cases such limitations are not specified or applicable .", "the company does not expect to make any payments on these guarantees and is not carrying any liabilities associated with these guarantees. ." ]

[ "f-80 www.thehartford.com the hartford financial services group , inc .", "notes to consolidated financial statements ( continued ) 14 .", "commitments and contingencies ( continued ) future minimum lease commitments as of december 31 , 2016 operating leases ." ]

[ "the 2017 of operating leases is $ 42 ;", "the total minimum lease payments [1] of operating leases is $ 163 ;" ]

[ [ "", "operating leases" ], [ "2017", "$ 42" ], [ "2018", "35" ], [ "2019", "28" ], [ "2020", "20" ], [ "2021", "10" ], [ "thereafter", "28" ], [ "total minimum lease payments [1]", "$ 163" ] ]

[ "1 .", "december 2012 includes $ 208 million related to our investment in the ordinary shares of icbc , which was sold in the first half of 2013 .", "credit spread sensitivity on derivatives and borrowings .", "var excludes the impact of changes in counterparty and our own credit spreads on derivatives as well as changes in our own credit spreads on unsecured borrowings for which the fair value option was elected .", "the estimated sensitivity to a one basis point increase in credit spreads ( counterparty and our own ) on derivatives was a gain of $ 4 million and $ 3 million ( including hedges ) as of december 2013 and december 2012 , respectively .", "in addition , the estimated sensitivity to a one basis point increase in our own credit spreads on unsecured borrowings for which the fair value option was elected was a gain of $ 8 million and $ 7 million ( including hedges ) as of december 2013 and december 2012 , respectively .", "however , the actual net impact of a change in our own credit spreads is also affected by the liquidity , duration and convexity ( as the sensitivity is not linear to changes in yields ) of those unsecured borrowings for which the fair value option was elected , as well as the relative performance of any hedges undertaken .", "interest rate sensitivity .", "as of december 2013 and december 2012 , the firm had $ 14.90 billion and $ 6.50 billion , respectively , of loans held for investment which were accounted for at amortized cost and included in 201creceivables from customers and counterparties , 201d substantially all of which had floating interest rates .", "as of december 2013 and december 2012 , the estimated sensitivity to a 100 basis point increase in interest rates on such loans was $ 136 million and $ 62 million , respectively , of additional interest income over a 12-month period , which does not take into account the potential impact of an increase in costs to fund such loans .", "see note 8 to the consolidated financial statements for further information about loans held for investment .", "goldman sachs 2013 annual report 95 ." ]

[ "management 2019s discussion and analysis sensitivity measures certain portfolios and individual positions are not included in var because var is not the most appropriate risk measure .", "other sensitivity measures we use to analyze market risk are described below .", "10% ( 10 % ) sensitivity measures .", "the table below presents market risk for inventory positions that are not included in var .", "the market risk of these positions is determined by estimating the potential reduction in net revenues of a 10% ( 10 % ) decline in the underlying asset value .", "equity positions below relate to private and restricted public equity securities , including interests in funds that invest in corporate equities and real estate and interests in hedge funds , which are included in 201cfinancial instruments owned , at fair value . 201d debt positions include interests in funds that invest in corporate mezzanine and senior debt instruments , loans backed by commercial and residential real estate , corporate bank loans and other corporate debt , including acquired portfolios of distressed loans .", "these debt positions are included in 201cfinancial instruments owned , at fair value . 201d see note 6 to the consolidated financial statements for further information about cash instruments .", "these measures do not reflect diversification benefits across asset categories or across other market risk measures .", "asset categories 10% ( 10 % ) sensitivity amount as of december in millions 2013 2012 equity 1 $ 2256 $ 2471 ." ]

[ "asset categories the equity1 of asset categories is $ 2256 ; the equity1 of is $ 2471 ;", "asset categories the total of asset categories is $ 3778 ; the total of is $ 4147 ;" ]

[ [ "asset categories", "asset categories", "" ], [ "in millions", "2013", "2012" ], [ "equity1", "$ 2256", "$ 2471" ], [ "debt", "1522", "1676" ], [ "total", "$ 3778", "$ 4147" ] ]

[ "in millions 2013 2012 additional collateral or termination payments for a one-notch downgrade $ 911 $ 1534 additional collateral or termination payments for a two-notch downgrade 2989 2500 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets .", "consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the excess liquidity and asset-liability management policies described above .", "cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses .", "year ended december 2013 .", "our cash and cash equivalents decreased by $ 11.54 billion to $ 61.13 billion at the end of 2013 .", "we generated $ 4.54 billion in net cash from operating activities .", "we used net cash of $ 16.08 billion for investing and financing activities , primarily to fund loans held for investment and repurchases of common stock .", "year ended december 2012 .", "our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 .", "we generated $ 9.14 billion in net cash from operating and investing activities .", "we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings .", "year ended december 2011 .", "our cash and cash equivalents increased by $ 16.22 billion to $ 56.01 billion at the end of 2011 .", "we generated $ 23.13 billion in net cash from operating and investing activities .", "we used net cash of $ 6.91 billion for financing activities , primarily for repurchases of our series g preferred stock and common stock , partially offset by an increase in bank deposits .", "goldman sachs 2013 annual report 89 ." ]

[ "management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including the assumed level of government support .", "certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings .", "we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .", "a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .", "we allocate a portion of our gce to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them .", "the table below presents the additional collateral or termination payments related to our net derivative liabilities under bilateral agreements that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. ." ]

[ "in millions the additional collateral or termination payments for a one-notch downgrade of as of december 2013 is $ 911 ; the additional collateral or termination payments for a one-notch downgrade of as of december 2012 is $ 1534 ;", "in millions the additional collateral or termination payments for a two-notch downgrade of as of december 2013 is 2989 ; the additional collateral or termination payments for a two-notch downgrade of as of december 2012 is 2500 ;" ]

[ [ "in millions", "as of december 2013", "as of december 2012" ], [ "additional collateral or termination payments for a one-notch downgrade", "$ 911", "$ 1534" ], [ "additional collateral or termination payments for a two-notch downgrade", "2989", "2500" ] ]

[ "the demand for property and casualty insurance generally rises as the overall level of economic activity increases and generally falls as such activity decreases , affecting both the commissions and fees generated by our brokerage business .", "the economic activity that impacts property and casualty insurance is described as exposure units , and is most closely correlated ." ]

[ "( 2 ) in 2013 , our principal u.k subsidiary agreed with the trustees of one of the u.k .", "plans to contribute an average of $ 11 million per year to that pension plan for the next three years .", "the trustees of the plan have certain rights to request that our u.k .", "subsidiary advance an amount equal to an actuarially determined winding-up deficit .", "as of december 31 , 2015 , the estimated winding-up deficit was a3240 million ( $ 360 million at december 31 , 2015 exchange rates ) .", "the trustees of the plan have accepted in practice the agreed-upon schedule of contributions detailed above and have not requested the winding-up deficit be paid .", "( 3 ) purchase obligations are defined as agreements to purchase goods and services that are enforceable and legally binding on us , and that specifies all significant terms , including what is to be purchased , at what price and the approximate timing of the transaction .", "most of our purchase obligations are related to purchases of information technology services or other service contracts .", "( 4 ) excludes $ 12 million of unfunded commitments related to an investment in a limited partnership due to our inability to reasonably estimate the period ( s ) when the limited partnership will request funding .", "( 5 ) excludes $ 218 million of liabilities for uncertain tax positions due to our inability to reasonably estimate the period ( s ) when potential cash settlements will be made .", "financial condition at december 31 , 2015 , our net assets were $ 6.2 billion , representing total assets minus total liabilities , a decrease from $ 6.6 billion at december 31 , 2014 .", "the decrease was due primarily to share repurchases of $ 1.6 billion , dividends of $ 323 million , and an increase in accumulated other comprehensive loss of $ 289 million related primarily to an increase in the post- retirement benefit obligation , partially offset by net income of $ 1.4 billion for the year ended december 31 , 2015 .", "working capital increased by $ 77 million from $ 809 million at december 31 , 2014 to $ 886 million at december 31 , 2015 .", "accumulated other comprehensive loss increased $ 289 million at december 31 , 2015 as compared to december 31 , 2014 , which was primarily driven by the following : 2022 negative net foreign currency translation adjustments of $ 436 million , which are attributable to the strengthening of the u.s .", "dollar against certain foreign currencies , 2022 a decrease of $ 155 million in net post-retirement benefit obligations , and 2022 net financial instrument losses of $ 8 million .", "review by segment general we serve clients through the following segments : 2022 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 our global distribution network .", "2022 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 .", "risk solutions ." ]

[ "years ended december 31 ( millions except percentage data ) the revenue of 2015 is $ 7426 ; the revenue of 2014 is $ 7834 ; the revenue of 2013 is $ 7789 ;", "the trustees of the plan have certain rights to request that our u.k .", "working capital increased by $ 77 million from $ 809 million at december 31 , 2014 to $ 886 million at december 31 , 2015 ." ]

[ [ "years ended december 31 ( millions except percentage data )", "2015", "2014", "2013" ], [ "revenue", "$ 7426", "$ 7834", "$ 7789" ], [ "operating income", "1506", "1648", "1540" ], [ "operating margin", "20.3% ( 20.3 % )", "21.0% ( 21.0 % )", "19.8% ( 19.8 % )" ] ]

[ "( 1 ) the pmi peer group presented in this graph is the same as that used in the prior year , except reynolds american inc .", "was removed following the completion of its acquisition by british american tobacco p.l.c .", "on july 25 , 2017 .", "the pmi peer group was established based on a review of four characteristics : global presence ; a focus on consumer products ; and net revenues and a market capitalization of a similar size to those of pmi .", "the review also considered the primary international tobacco companies .", "as a result of this review , the following companies constitute the pmi peer group : altria group , inc. , anheuser-busch inbev sa/nv , british american tobacco p.l.c. , the coca-cola company , colgate-palmolive co. , diageo plc , heineken n.v. , imperial brands plc , japan tobacco inc. , johnson & johnson , kimberly-clark corporation , the kraft-heinz company , mcdonald's corp. , mondel z international , inc. , nestl e9 s.a. , pepsico , inc. , the procter & gamble company , roche holding ag , and unilever nv and plc .", "note : figures are rounded to the nearest $ 0.10. ." ]

[ "performance graph the graph below compares the cumulative total shareholder return on pmi's common stock with the cumulative total return for the same period of pmi's peer group and the s&p 500 index .", "the graph assumes the investment of $ 100 as of december 31 , 2012 , in pmi common stock ( at prices quoted on the new york stock exchange ) and each of the indices as of the market close and reinvestment of dividends on a quarterly basis .", "date pmi pmi peer group ( 1 ) s&p 500 index ." ]

[ "date the december 31 2012 of pmi is $ 100.00 ; the december 31 2012 of pmi peer group ( 1 ) is $ 100.00 ; the december 31 2012 of s&p 500 index is $ 100.00 ;", "date the december 31 2013 of pmi is $ 108.50 ; the december 31 2013 of pmi peer group ( 1 ) is $ 122.80 ; the december 31 2013 of s&p 500 index is $ 132.40 ;", "date the december 31 2014 of pmi is $ 106.20 ; the december 31 2014 of pmi peer group ( 1 ) is $ 132.50 ; the december 31 2014 of s&p 500 index is $ 150.50 ;", "date the december 31 2015 of pmi is $ 120.40 ; the december 31 2015 of pmi peer group ( 1 ) is $ 143.50 ; the december 31 2015 of s&p 500 index is $ 152.60 ;", "date the december 31 2016 of pmi is $ 130.80 ; the december 31 2016 of pmi peer group ( 1 ) is $ 145.60 ; the december 31 2016 of s&p 500 index is $ 170.80 ;", "date the december 31 2017 of pmi is $ 156.80 ; the december 31 2017 of pmi peer group ( 1 ) is $ 172.70 ; the december 31 2017 of s&p 500 index is $ 208.10 ;" ]

[ [ "date", "pmi", "pmi peer group ( 1 )", "s&p 500 index" ], [ "december 31 2012", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "december 31 2013", "$ 108.50", "$ 122.80", "$ 132.40" ], [ "december 31 2014", "$ 106.20", "$ 132.50", "$ 150.50" ], [ "december 31 2015", "$ 120.40", "$ 143.50", "$ 152.60" ], [ "december 31 2016", "$ 130.80", "$ 145.60", "$ 170.80" ], [ "december 31 2017", "$ 156.80", "$ 172.70", "$ 208.10" ] ]

[ "issuer purchases of equity securities on april 5 , 2007 , our board of directors authorized repurchases of our common stock in an amount up to $ 100 million .", "the board has authorized us to purchase shares from time to time as market conditions permit .", "there is no expiration date with respect to this authorization .", "no amounts have been repurchased during the fiscal year ended may 31 , 2007. ." ]

[ "stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years .", "the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2002 and assumes reinvestment of all dividends .", "comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/02 5/03 5/04 5/05 5/06 5/07 global payments inc .", "s&p 500 s&p information technology * $ 100 invested on 5/31/02 in stock or index-including reinvestment of dividends .", "fiscal year ending may 31 .", "global payments s&p 500 information technology ." ]

[ "the may 31 2002 of global payments is $ 100.00 ; the may 31 2002 of s&p 500 is $ 100.00 ; the may 31 2002 of s&p information technology is $ 100.00 ;", "the may 31 2003 of global payments is 94.20 ; the may 31 2003 of s&p 500 is 91.94 ; the may 31 2003 of s&p information technology is 94.48 ;" ]

[ [ "", "global payments", "s&p 500", "s&p information technology" ], [ "may 31 2002", "$ 100.00", "$ 100.00", "$ 100.00" ], [ "may 31 2003", "94.20", "91.94", "94.48" ], [ "may 31 2004", "129.77", "108.79", "115.24" ], [ "may 31 2005", "193.30", "117.75", "116.29" ], [ "may 31 2006", "260.35", "127.92", "117.14" ], [ "may 31 2007", "224.24", "157.08", "144.11" ] ]

[ "as of may 27 , 2018 , we did not any have cash and cash equivalents pledged as collateral for derivative contracts .", "as of may 27 , 2018 , $ 0.9 million of certain accounts receivable were pledged as collateral against a foreign uncommitted line of credit .", "the fair value and carrying amounts of long-term debt , including the current portion , were $ 14169.7 million and $ 14268.8 million , respectively , as of may 27 , 2018 .", "the fair value of long-term debt was estimated using market quotations and discounted cash flows based on our current incremental borrowing rates for similar types of instruments .", "long-term debt is a level 2 liability in the fair value hierarchy .", "risk management activities as a part of our ongoing operations , we are exposed to market risks such as changes in interest and foreign currency exchange rates and commodity and equity prices .", "to manage these risks , we may enter into various derivative transactions ( e.g. , futures , options , and swaps ) pursuant to our established policies .", "commodity price risk many commodities we use in the production and distribution of our products are exposed to market price risks .", "we utilize derivatives to manage price risk for our principal ingredients and energy costs , including grains ( oats , wheat , and corn ) , oils ( principally soybean ) , dairy products , natural gas , and diesel fuel .", "our primary objective when entering into these derivative contracts is to achieve certainty with regard to the future price of commodities purchased for use in our supply chain .", "we manage our exposures through a combination of purchase orders , long-term contracts with suppliers , exchange-traded futures and options , and over-the-counter options and swaps .", "we offset our exposures based on current and projected market conditions and generally seek to acquire the inputs at as close to our planned cost as possible .", "we use derivatives to manage our exposure to changes in commodity prices .", "we do not perform the assessments required to achieve hedge accounting for commodity derivative positions .", "accordingly , the changes in the values of these derivatives are recorded currently in cost of sales in our consolidated statements of earnings .", "although we do not meet the criteria for cash flow hedge accounting , we believe that these instruments are effective in achieving our objective of providing certainty in the future price of commodities purchased for use in our supply chain .", "accordingly , for purposes of measuring segment operating performance these gains and losses are reported in unallocated corporate items outside of segment operating results until such time that the exposure we are managing affects earnings .", "at that time we reclassify the gain or loss from unallocated corporate items to segment operating profit , allowing our operating segments to realize the economic effects of the derivative without experiencing any resulting mark-to-market volatility , which remains in unallocated corporate items. ." ]

[ "scheduled maturities of our marketable securities are as follows: ." ]

[ "in millions the total of available for sale cost is $ 25.7 ; the total of available for sale fair value is $ 28.9 ;" ]

[ [ "in millions", "available for sale cost", "available for sale fair value" ], [ "under 1 year ( current )", "$ 25.4", "$ 25.4" ], [ "equity securities", "0.3", "3.5" ], [ "total", "$ 25.7", "$ 28.9" ] ]

[ "." ]

[ "company stock performance the following graph shows a five-year comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 composite index , the s&p computer hardware index , and the dow jones u.s .", "technology index as of the market close on september 30 , 2007 .", "data points on the graph are annual .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "sep-11sep-10sep-09sep-08sep-07 sep-12 apple inc .", "s&p 500 s&p computer hardware dow jones us technology comparison of 5 year cumulative total return* among apple inc. , the s&p 500 index , the s&p computer hardware index , and the dow jones us technology index *$ 100 invested on 9/30/07 in stock or index , including reinvestment of dividends .", "fiscal year ending september 30 .", "copyright a9 2012 s&p , a division of the mcgraw-hill companies inc .", "all rights reserved .", "september 30 , september 30 , september 30 , september 30 , september 30 , september 30 ." ]

[ "the apple inc . of september 30 2007 is $ 100 ; the apple inc . of september 30 2008 is $ 74 ; the apple inc . of september 30 2009 is $ 121 ; the apple inc . of september 30 2010 is $ 185 ; the apple inc . of september 30 2011 is $ 248 ; the apple inc . of september 30 2012 is $ 437 ;" ]

[ [ "", "september 30 2007", "september 30 2008", "september 30 2009", "september 30 2010", "september 30 2011", "september 30 2012" ], [ "apple inc .", "$ 100", "$ 74", "$ 121", "$ 185", "$ 248", "$ 437" ], [ "s&p 500", "$ 100", "$ 78", "$ 73", "$ 80", "$ 81", "$ 105" ], [ "s&p computer hardware", "$ 100", "$ 84", "$ 99", "$ 118", "$ 134", "$ 214" ], [ "dow jones us technology", "$ 100", "$ 76", "$ 85", "$ 95", "$ 98", "$ 127" ] ]

[ "( 1 ) interest payments include interest on $ 554 million of variable interest rate debt calculated based on interest rates at december 31 , 2011 .", "( 2 ) a 201cpurchase obligation 201d is defined as an agreement to purchase goods or services that is enforceable and legally binding on us and that specifies all significant terms , including : fixed or minimum quantities to be purchased ; fixed , minimum , or variable price provisions ; and the approximate timing of the transaction .", "these amounts are primarily comprised of open purchase order commitments to vendors and subcontractors pertaining to funded contracts .", "( 3 ) other long-term liabilities primarily consist of total accrued workers 2019 compensation reserves , deferred compensation , and other miscellaneous liabilities , of which $ 201 million is the current portion of workers 2019 compensation liabilities .", "it excludes obligations for uncertain tax positions of $ 9 million , as the timing of the payments , if any , cannot be reasonably estimated .", "the above table excludes retirement related contributions .", "in 2012 , we expect to make minimum and discretionary contributions to our qualified pension plans of approximately $ 153 million and $ 65 million , respectively , exclusive of any u.s .", "government recoveries .", "we will continue to periodically evaluate whether to make additional discretionary contributions .", "in 2012 , we expect to make $ 35 million in contributions for our other postretirement plans , exclusive of any ." ]

[ "contractual obligations in 2011 , we issued $ 1200 million of senior notes and entered into the credit facility with third-party lenders in the amount of $ 1225 million .", "as of december 31 , 2011 , total outstanding long-term debt was $ 1859 million , consisting of these senior notes and the credit facility , in addition to $ 105 million of third party debt that remained outstanding subsequent to the spin-off .", "in connection with the spin-off , we entered into a transition services agreement with northrop grumman , under which northrop grumman or certain of its subsidiaries provides us with certain services to help ensure an orderly transition following the distribution .", "under the transition services agreement , northrop grumman provides , for up to 12 months following the spin-off , certain enterprise shared services ( including information technology , resource planning , financial , procurement and human resource services ) , benefits support services and other specified services .", "the original term of the transition services agreement ends on march 31 , 2012 , although we have the right to and have cancelled certain services as we transition to new third-party providers .", "the services provided by northrop grumman are charged to us at cost , and a limited number of these services may be extended for a period of approximately six months to allow full information systems transition .", "see note 20 : related party transactions and former parent company equity in item 8 .", "in connection with the spin-off , we entered into a tax matters agreement with northrop grumman ( the 201ctax matters agreement 201d ) that governs the respective rights , responsibilities and obligations of northrop grumman and us after the spin-off with respect to tax liabilities and benefits , tax attributes , tax contests and other tax sharing regarding u.s .", "federal , state , local and foreign income taxes , other taxes and related tax returns .", "we have several liabilities with northrop grumman to the irs for the consolidated u.s .", "federal income taxes of the northrop grumman consolidated group relating to the taxable periods in which we were part of that group .", "however , the tax matters agreement specifies the portion of this tax liability for which we will bear responsibility , and northrop grumman has agreed to indemnify us against any amounts for which we are not responsible .", "the tax matters agreement also provides special rules for allocating tax liabilities in the event that the spin-off , together with certain related transactions , is not tax-free .", "see note 20 : related party transactions and former parent company equity in item 8 .", "we do not expect either the transition services agreement or the tax matters agreement to have a significant impact on our financial condition and results of operations .", "the following table presents our contractual obligations as of december 31 , 2011 , and the related estimated timing of future cash payments : ( $ in millions ) total 2012 2013 - 2014 2015 - 2016 2017 and beyond ." ]

[ "( $ in millions ) the long-term debt of total is $ 1859 ; the long-term debt of 2012 is $ 29 ; the long-term debt of 2013 - 2014 is $ 129 ; the long-term debt of 2015 - 2016 is $ 396 ; the long-term debt of 2017 and beyond is $ 1305 ;", "( $ in millions ) the total contractual obligations of total is $ 5849 ; the total contractual obligations of 2012 is $ 1637 ; the total contractual obligations of 2013 - 2014 is $ 1239 ; the total contractual obligations of 2015 - 2016 is $ 897 ; the total contractual obligations of 2017 and beyond is $ 2076 ;" ]

[ [ "( $ in millions )", "total", "2012", "2013 - 2014", "2015 - 2016", "2017 and beyond" ], [ "long-term debt", "$ 1859", "$ 29", "$ 129", "$ 396", "$ 1305" ], [ "interest payments on long-term debt ( 1 )", "854", "112", "219", "202", "321" ], [ "operating leases", "124", "21", "32", "23", "48" ], [ "purchase obligations ( 2 )", "2425", "1409", "763", "209", "44" ], [ "other long-term liabilities ( 3 )", "587", "66", "96", "67", "358" ], [ "total contractual obligations", "$ 5849", "$ 1637", "$ 1239", "$ 897", "$ 2076" ] ]

[ "rent expense , net of amortization of the deferred gain on sale of property , was $ 4723041 , $ 4737218 , and $ 1794234 for the years ended december 31 , 2006 , january 1 , 2006 and january 2 , 2005 , respectively .", "6 .", "stockholders 2019 equity common stock as of december 31 , 2006 , the company had 46857512 shares of common stock outstanding , of which 4814744 shares were sold to employees and consultants subject to restricted stock agreements .", "the restricted common shares vest in accordance with the provisions of the agreements , generally over five years .", "all unvested shares are subject to repurchase by the company at the original purchase price .", "as of december 31 , 2006 , 36000 shares of common stock were subject to repurchase .", "in addition , the company also issued 12000 shares for a restricted stock award to an employee under the company 2019s new 2005 stock and incentive plan based on service performance .", "these shares vest monthly over a three-year period .", "stock options 2005 stock and incentive plan in june 2005 , the stockholders of the company approved the 2005 stock and incentive plan ( the 2005 stock plan ) .", "upon adoption of the 2005 stock plan , issuance of options under the company 2019s existing 2000 stock plan ceased .", "the 2005 stock plan provides that an aggregate of up to 11542358 shares of the company 2019s common stock be reserved and available to be issued .", "in addition , the 2005 stock plan provides for an automatic annual increase in the shares reserved for issuance by the lesser of 5% ( 5 % ) of outstanding shares of the company 2019s common stock on the last day of the immediately preceding fiscal year , 1200000 shares or such lesser amount as determined by the company 2019s board of directors .", "illumina , inc .", "notes to consolidated financial statements 2014 ( continued ) ." ]

[ "as of december 31 , 2006 , the company also leased an office and laboratory facility in connecticut , additional office , distribution and storage facilities in san diego , and four foreign facilities located in japan , singapore , china and the netherlands under non-cancelable operating leases that expire at various times through june 2011 .", "these leases contain renewal options ranging from one to five years .", "as of december 31 , 2006 , annual future minimum payments under these operating leases were as follows ( in thousands ) : ." ]

[ "2007 the 2008 of 5320 is 5335 ;", "2007 the total of 5320 is $ 37899 ;" ]

[ [ "2007", "5320" ], [ "2008", "5335" ], [ "2009", "5075" ], [ "2010", "4659" ], [ "2011", "4712" ], [ "2012 and thereafter", "12798" ], [ "total", "$ 37899" ] ]

[ "note 13 .", "capital stock in august 2008 , the company issued 2419932 shares of its common stock at a price of $ 17.3788 in a public offering , which resulted in net proceeds to the company of approximately $ 42.0 million , after deducting offering expenses .", "in march 2007 , the company issued 5000000 shares of common stock in a public offering , and in april 2007 , an additional 80068 shares of common stock were issued in connection with the offering upon the partial exercise of the underwriters 2019 over-allotment option .", "the company has authorized 1000000 shares of class b preferred stock , $ 0.01 par value , of which the board of directors can set the designation , rights and privileges .", "no shares of class b preferred stock have been issued or are outstanding .", "note 14 .", "income taxes deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to tax benefit carryforwards and to differences between the financial statement amounts of assets and liabilities and their respective tax basis .", "deferred tax assets and liabilities are measured using enacted tax rates .", "a valuation reserve is established if it is more likely than not that all or a portion of the deferred tax asset will not be realized .", "the tax benefit associated with the stock option compensation deductions will be credited to equity when realized .", "at march 31 , 2009 , the company had federal and state net operating loss carryforwards , or nols , of approximately $ 145.1 million and $ 97.1 million , respectively , which begin to expire in fiscal 2010 .", "additionally , at march 31 , 2009 , the company had federal and state research and development credit carryforwards of approximately $ 8.1 million and $ 4.2 million , respectively , which begin to expire in fiscal 2010 .", "the company acquired impella , a german-based company , in may 2005 .", "impella had pre-acquisition net operating losses of approximately $ 18.2 million at the time of acquisition ( which is denominated in euros and is subject to foreign exchange remeasurement at each balance sheet date presented ) , and has since incurred net operating losses in each fiscal year since the acquisition .", "during fiscal 2008 , the company determined that approximately $ 1.2 million of pre-acquisition operating losses could not be utilized .", "the utilization of pre-acquisition net operating losses of impella in future periods is subject to certain statutory approvals and business requirements .", "due to uncertainties surrounding the company 2019s ability to generate future taxable income to realize these assets , a full valuation allowance has been established to offset the company 2019s net deferred tax assets and liabilities .", "additionally , the future utilization of the company 2019s nol and research and development credit carry forwards to offset future taxable income may be subject to a substantial annual limitation under section 382 of the internal revenue code due to ownership changes that have occurred previously or that could occur in the future .", "ownership changes , as defined in section 382 of the internal revenue code , can limit the amount of net operating loss carry forwards and research and development credit carry forwards that a company can use each year to offset future taxable income and taxes payable .", "the company believes that all of its federal and state nol 2019s will be available for carryforward to future tax periods , subject to the statutory maximum carryforward limitation of any annual nol .", "any future potential limitation to all or a portion of the nol or research and development credit carry forwards , before they can be utilized , would reduce the company 2019s gross deferred tax assets .", "the company will monitor subsequent ownership changes , which could impose limitations in the future. ." ]

[ "abiomed , inc .", "and subsidiaries notes to consolidated financial statements 2014 ( continued ) note 12 .", "stock award plans and stock based compensation ( continued ) compensation expense recognized related to the company 2019s espp was approximately $ 0.1 million for each of the years ended march 31 , 2009 , 2008 and 2007 respectively .", "the fair value of shares issued under the employee stock purchase plan was estimated on the commencement date of each offering period using the black-scholes option-pricing model with the following assumptions: ." ]

[ "the expected volatility of 2009 is 67.2% ( 67.2 % ) ; the expected volatility of 2008 is 45.2% ( 45.2 % ) ; the expected volatility of 2007 is 39.8% ( 39.8 % ) ;", "the of 2009 is 2009 ; the of 2008 is 2008 ; the of 2007 is 2007 ;" ]

[ [ "", "2009", "2008", "2007" ], [ "risk-free interest rate", "1.01% ( 1.01 % )", "4.61% ( 4.61 % )", "4.84% ( 4.84 % )" ], [ "expected life ( years )", "0.5", "0.5", "0.5" ], [ "expected volatility", "67.2% ( 67.2 % )", "45.2% ( 45.2 % )", "39.8% ( 39.8 % )" ] ]

[ "the related compensation costs less estimated forfeitures is generally recognized ratably over the vesting period of the restricted stock awards .", "upon vesting , the grants will be paid in our class p common shares .", "during 2016 , 2015 and 2014 , we recorded $ 66 million , $ 52 million and $ 51 million , respectively , in expense related to restricted stock awards and capitalized approximately $ 9 million , $ 15 million and $ 6 million , respectively .", "at december 31 , 2016 and 2015 , unrecognized restricted stock awards compensation costs , less estimated forfeitures , was approximately $ 133 million and $ 154 million , respectively .", "pension and other postretirement benefit plans savings plan we maintain a defined contribution plan covering eligible u.s .", "employees .", "we contribute 5% ( 5 % ) of eligible compensation for most of the plan participants .", "certain plan participants 2019 contributions and company contributions are based on collective bargaining agreements .", "the total expense for our savings plan was approximately $ 48 million , $ 46 million , and $ 42 million for the years ended december 31 , 2016 , 2015 and 2014 , respectively .", "pension plans our u.s .", "pension plan is a defined benefit plan that covers substantially all of our u.s .", "employees and provides benefits under a cash balance formula .", "a participant in the cash balance plan accrues benefits through contribution credits based on a combination of age and years of service , times eligible compensation .", "interest is also credited to the participant 2019s plan account .", "a participant becomes fully vested in the plan after three years , and may take a lump sum distribution upon termination of employment or retirement .", "certain collectively bargained and grandfathered employees continue to accrue benefits through career pay or final pay formulas .", "two of our subsidiaries , kinder morgan canada inc .", "and trans mountain pipeline inc .", "( as general partner of trans mountain pipeline l.p. ) , are sponsors of pension plans for eligible canadian and trans mountain pipeline employees .", "the plans include registered defined benefit pension plans , supplemental unfunded arrangements ( which provide pension benefits in excess of statutory limits ) and defined contributory plans .", "benefits under the defined benefit components accrue through career pay or final pay formulas .", "the net periodic benefit costs , contributions and liability amounts associated with our canadian plans are not material to our consolidated income statements or balance sheets ; however , we began to include the activity and balances associated with our canadian plans ( including our canadian opeb plans discussed below ) in the following disclosures on a prospective basis beginning in 2016 .", "the associated net periodic benefit costs for these combined canadian plans of $ 12 million and $ 10 million for the years ended december 31 , 2015 and 2014 , respectively , were reported separately in prior years .", "other postretirement benefit plans we and certain of our u.s .", "subsidiaries provide other postretirement benefits ( opeb ) , including medical benefits for closed groups of retired employees and certain grandfathered employees and their dependents , and limited postretirement life insurance benefits for retired employees .", "our canadian subsidiaries also provide opeb benefits to current and future retirees and their dependents .", "medical benefits under these opeb plans may be subject to deductibles , co-payment provisions , dollar ." ]

[ "the intrinsic value of restricted stock awards vested during the years ended december 31 , 2016 , 2015 and 2014 was $ 25 million , $ 31 million and $ 17 million , respectively .", "restricted stock awards made to employees have vesting periods ranging from 1 year with variable vesting dates to 10 years .", "following is a summary of the future vesting of our outstanding restricted stock awards : vesting of restricted shares ." ]

[ "year the thereafter of vesting of restricted shares is 110494 ;", "year the total outstanding of vesting of restricted shares is 9038137 ;" ]

[ [ "year", "vesting of restricted shares" ], [ "2017", "1476832" ], [ "2018", "2352443" ], [ "2019", "4358728" ], [ "2020", "539790" ], [ "2021", "199850" ], [ "thereafter", "110494" ], [ "total outstanding", "9038137" ] ]

[ "virginia ( 1 ) 2011 - 2017 ( 1 ) the 2014 tax year has been closed in these jurisdictions .", "although the company believes it has adequately provided for all uncertain tax positions , amounts asserted by taxing authorities could be greater than the company's accrued position .", "accordingly , additional provisions for federal and state income tax related matters could be recorded in the future as revised estimates are made or the underlying matters are effectively settled or otherwise resolved .", "conversely , the company could settle positions with the tax authorities for amounts lower than have been accrued .", "the company believes that it is reasonably possible that during the next 12 months the company's liability for uncertain tax positions may decrease by $ 14 million due to resolution of a federal uncertain tax position .", "during 2013 the company entered into the pre-compliance assurance process with the irs for years 2011 and 2012 .", "the company is part of the irs compliance assurance process program for the 2014 through 2018 tax years .", "open tax years related to state jurisdictions remain subject to examination .", "deferred income taxes - deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and for income tax purposes .", "as described above , deferred tax assets and liabilities are calculated as of the balance sheet date using current tax laws and rates expected to be in effect when the deferred tax items reverse in future periods .", "as a result of the reduction in the corporate income tax rate from 35% ( 35 % ) to 21% ( 21 % ) under the tax act , the company revalued its net deferred tax assets as of december 31 , 2017 .", "net deferred tax assets are classified as long-term deferred tax assets in the consolidated statements of financial position. ." ]

[ "and penalties , resulting in a liability of $ 1 million for interest and penalties as of december 31 , 2018 .", "in 2017 , there was a net decrease in income tax expense of $ 1 million for interest and penalties , resulting in no material liability for interest and penalties as of december 31 , 2017 .", "the 2017 changes in interest and penalties related to statute of limitation expirations .", "in 2016 , there was a net decrease in income tax expense of $ 2 million for interest and penalties , resulting in a total liability of $ 1 million for interest and penalties as of december 31 , 2016 .", "the 2016 changes in interest and penalties related to reductions in prior year tax positions and settlement with a taxing authority .", "the following table summarizes the tax years that are either currently under examination or remain open under the applicable statute of limitations and subject to examination by the major tax jurisdictions in which the company operates: ." ]

[ "in 2017 , there was a net decrease in income tax expense of $ 1 million for interest and penalties , resulting in no material liability for interest and penalties as of december 31 , 2017 .", "in 2016 , there was a net decrease in income tax expense of $ 2 million for interest and penalties , resulting in a total liability of $ 1 million for interest and penalties as of december 31 , 2016 ." ]

[ [ "jurisdiction united states ( 1 )", "jurisdiction 2011", "jurisdiction -", "2017" ], [ "connecticut", "2016", "-", "2017" ], [ "mississippi", "2012", "-", "2017" ], [ "virginia ( 1 )", "2011", "-", "2017" ] ]

[ "( 1 ) net of provision for uncollectible reinsurance ." ]

[ "critical accounting estimates our consolidated financial statements include amounts that , either by their nature or due to requirements of accounting princi- ples generally accepted in the u.s .", "( gaap ) , are determined using best estimates and assumptions .", "while we believe that the amounts included in our consolidated financial statements reflect our best judgment , actual amounts could ultimately materi- ally differ from those currently presented .", "we believe the items that require the most subjective and complex estimates are : 2022 unpaid loss and loss expense reserves , including long-tail asbestos and environmental ( a&e ) reserves ; 2022 future policy benefits reserves ; 2022 valuation of value of business acquired ( voba ) and amortization of deferred policy acquisition costs and voba ; 2022 the assessment of risk transfer for certain structured insurance and reinsurance contracts ; 2022 reinsurance recoverable , including a provision for uncollectible reinsurance ; 2022 the valuation of our investment portfolio and assessment of other-than-temporary impairments ( otti ) ; 2022 the valuation of deferred tax assets ; 2022 the valuation of derivative instruments related to guaranteed minimum income benefits ( gmib ) ; and 2022 the valuation of goodwill .", "we believe our accounting policies for these items are of critical importance to our consolidated financial statements .", "the following discussion provides more information regarding the estimates and assumptions required to arrive at these amounts and should be read in conjunction with the sections entitled : prior period development , asbestos and environmental and other run-off liabilities , reinsurance recoverable on ceded reinsurance , investments , net realized gains ( losses ) , and other income and expense items .", "unpaid losses and loss expenses overview and key data as an insurance and reinsurance company , we are required , by applicable laws and regulations and gaap , to establish loss and loss expense reserves for the estimated unpaid portion of the ultimate liability for losses and loss expenses under the terms of our policies and agreements with our insured and reinsured customers .", "the estimate of the liabilities includes provisions for claims that have been reported but are unpaid at the balance sheet date ( case reserves ) and for future obligations on claims that have been incurred but not reported ( ibnr ) at the balance sheet date ( ibnr may also include a provision for additional development on reported claims in instances where the case reserve is viewed to be potentially insufficient ) .", "loss reserves also include an estimate of expenses associated with processing and settling unpaid claims ( loss expenses ) .", "at december 31 , 2009 , our gross unpaid loss and loss expense reserves were $ 37.8 billion and our net unpaid loss and loss expense reserves were $ 25 billion .", "with the exception of certain structured settlements , for which the timing and amount of future claim pay- ments are reliably determinable , our loss reserves are not discounted for the time value of money .", "in connection with such structured settlements , we carry net reserves of $ 76 million , net of discount .", "the table below presents a roll-forward of our unpaid losses and loss expenses for the years ended december 31 , 2009 and 2008. ." ]

[ "at december 31 , 2009 , our gross unpaid loss and loss expense reserves were $ 37.8 billion and our net unpaid loss and loss expense reserves were $ 25 billion ." ]

[ [ "( in millions of u.s . dollars )", "2009 gross losses", "2009 reinsurance recoverable ( 1 )", "2009 net losses", "2009 gross losses", "2009 reinsurance recoverable ( 1 )", "net losses" ], [ "balance beginning of year", "$ 37176", "$ 12935", "$ 24241", "$ 37112", "$ 13520", "$ 23592" ], [ "losses and loss expenses incurred", "11141", "3719", "7422", "10944", "3341", "7603" ], [ "losses and loss expenses paid", "-11093 ( 11093 )", "-4145 ( 4145 )", "-6948 ( 6948 )", "-9899 ( 9899 )", "-3572 ( 3572 )", "-6327 ( 6327 )" ], [ "other ( including foreign exchange revaluation )", "559", "236", "323", "-1367 ( 1367 )", "-387 ( 387 )", "-980 ( 980 )" ], [ "losses and loss expenses acquired", "2013", "2013", "2013", "386", "33", "353" ], [ "balance end of year", "$ 37783", "$ 12745", "$ 25038", "$ 37176", "$ 12935", "$ 24241" ] ]

[ "in addition , american living and chaps-branded products distributed by our wholesale segment were sold domestically through approximately 1700 doors as of april 2 , 2011. ." ]

[ "table of contents global brand concepts american living launched exclusively at jcpenney in february 2008 , american living offers classic american style with a fresh , modern spirit and authentic sensibility .", "from everyday essentials to special occasion looks for the entire family to finely crafted bedding and home furnishings , american living promises stylish clothing and home products that are exceptionally made and offered at an incredible value .", "american living is available exclusively at jcpenney and jcp.com .", "chaps translates the classic heritage and timeless aesthetic of ralph lauren into an accessible line for men , women , children and the home .", "from casual basics designed for versatility and ease of wear to smart , finely tailored silhouettes perfect for business and more formal occasions , chaps creates interchangeable classics that are both enduring and affordable .", "the chaps men 2019s collection is available at select department and specialty stores .", "the chaps collections for women , children and the home are available exclusively at kohl 2019s and kohls.com .", "our wholesale segment our wholesale segment sells our products to leading upscale and certain mid-tier department stores , specialty stores and golf and pro shops , both domestically and internationally .", "we have continued to focus on elevating our brand by improving in-store product assortment and presentation , and improving full-price sell-throughs to consumers .", "as of the end of fiscal 2011 , our ralph lauren- branded products were sold through approximately 10000 doors worldwide and during fiscal 2011 , we invested approximately $ 35 million in related shop-within-shops primarily in domestic and international department and specialty stores .", "department stores are our major wholesale customers in north america .", "in europe , our wholesale sales are a varying mix of sales to both department stores and specialty shops , depending on the country .", "our collection brands 2014 women 2019s ralph lauren collection and black label and men 2019s purple label and black label 2014 are distributed through a limited number of premier fashion retailers .", "in addition , we sell excess and out-of-season products through secondary distribution channels , including our retail factory stores .", "in japan , our wholesale products are distributed primarily through shop-within-shops at premiere and top-tier department stores , and the mix of business is weighted to women 2019s blue label .", "in asia ( excluding japan and south korea ) , our wholesale products are sold at mid and top- tier department stores , and the mix of business is primarily weighted to men 2019s and women 2019s blue label .", "in asia and on a worldwide basis , products distributed through concessions-based sales arrangements are reported within our retail segment ( see 201cour retail segment 201d for further discussion ) .", "worldwide distribution channels the following table presents the number of doors by geographic location , in which ralph lauren-branded products distributed by our wholesale segment were sold to consumers in our primary channels of distribution as of april 2 , 2011 : number of location doors ." ]

[ "location the united states and canada of number of doors is 5943 ;", "location the total of number of doors is 9955 ;" ]

[ [ "location", "number of doors" ], [ "united states and canada", "5943" ], [ "europe", "3919" ], [ "asia", "93" ], [ "total", "9955" ] ]

[ "the mark-to-market tax settlement sharing variance results from a regulatory charge because a portion of the benefits of a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts will be shared with customers , slightly offset by the amortization of a portion of that charge beginning in october 2011 .", "see notes 3 and 8 to the financial statements for additional discussion of the settlement and benefit sharing .", "the retail electric price variance is primarily due to a formula rate plan increase effective may 2011 .", "see note 2 to the financial statements for discussion of the formula rate plan increase. ." ]

[ "entergy louisiana , llc 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 $ 242.5 million primarily due to a settlement with the irs related to the mark-to-market income tax treatment of power purchase contracts , which resulted in a $ 422 million income tax benefit .", "the net income effect was partially offset by a $ 199 million regulatory charge , which reduced net revenue , because a portion of the benefit will be shared with customers .", "see note 3 to the financial statements for additional discussion of the settlement and benefit sharing .", "2010 compared to 2009 net income decreased slightly by $ 1.4 million primarily due to higher other operation and maintenance expenses , a higher effective income tax rate , and higher interest expense , almost entirely offset by higher net revenue .", "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 ) ." ]

[ "the 2010 net revenue of amount ( in millions ) is $ 1043.7 ;", "the 2011 net revenue of amount ( in millions ) is $ 886.2 ;" ]

[ [ "", "amount ( in millions )" ], [ "2010 net revenue", "$ 1043.7" ], [ "mark-to-market tax settlement sharing", "-195.9 ( 195.9 )" ], [ "retail electric price", "32.5" ], [ "volume/weather", "11.6" ], [ "other", "-5.7 ( 5.7 )" ], [ "2011 net revenue", "$ 886.2" ] ]

[ "aes utilizes derivative financial instruments to hedge interest rate risk , foreign exchange risk and commodity price risk .", "the company utilizes interest rate swap , cap and floor agreements to hedge interest rate risk on floating rate debt .", "the majority of aes 2019s interest rate derivatives are designated and qualify as cash flow hedges .", "currency forward and swap agreements are utilized to hedge foreign exchange risk which is a result of aes or one of its subsidiaries entering into monetary obligations in currencies other than its own functional currency .", "the majority of aes 2019s foreign currency derivatives are designated and qualify as either fair value hedges or cash flow hedges .", "certain derivative instruments and other non-derivative instruments are designated and qualify as hedges of the foreign currency exposure of a net investment in a foreign operation .", "the company utilizes electric and gas derivative instruments , including swaps , options , forwards and futures , to hedge the risk related to electricity and gas sales and purchases .", "the majority of aes 2019s electric and gas derivatives are designated and qualify as cash flow hedges .", "the maximum length of time over which aes is hedging its exposure to variability in future cash flows for forecasted transactions , excluding forecasted transactions related to the payment of variable interest , is three years .", "for the year ended december 31 , 2001 , a charge of $ 4 million , after income taxes , was recorded for two cash flow hedges that were discontinued because it is probable that the hedged forecasted transaction will not occur .", "a portion of this charge has been classified as discontinued operations .", "for the year ended december 31 , 2001 , no fair value hedges were de-recognized or discontinued. ." ]

[ "7 .", "derivative instruments effective january 1 , 2001 , aes adopted sfas no .", "133 , 2018 2018accounting for derivative instruments and hedging activities , 2019 2019 which , as amended , establishes accounting and reporting standards for derivative instruments and hedging activities .", "the adoption of sfas no .", "133 on january 1 , 2001 , resulted in a cumulative reduction to income of less than $ 1 million , net of deferred income tax effects , and a cumulative reduction of accumulated other comprehensive income in stockholders 2019 equity of $ 93 million , net of deferred income tax effects .", "for the year ended december 31 , 2001 , the impact of changes in derivative fair value primarily related to derivatives that do not qualify for hedge accounting treatment was a charge of $ 36 million , after income taxes .", "this amount includes a charge of $ 6 million , after income taxes , related to the ineffective portion of derivatives qualifying as cash flow and fair value hedges for the year ended december 31 , 2001 .", "there was no net effect on results of operations for the year ended december 31 , 2001 , of derivative and non-derivative instruments that have been designated and qualified as hedging net investments in foreign operations .", "approximately $ 35 million of other comprehensive loss related to derivative instruments as of december 31 , 2001 is expected to be recognized as a reduction to earnings over the next twelve months .", "a portion of this amount is expected to be offset by the effects of hedge accounting .", "the balance in accumulated other comprehensive loss related to derivative transactions will be reclassified into earnings as interest expense is recognized for hedges of interest rate risk , as foreign currency transaction and translation gains and losses are recognized for hedges of foreign currency exposure and as electric and gas sales and purchases are recognized for hedges of forecasted electric and gas transactions .", "amounts recorded in accumulated other comprehensive income , net of tax , during the year-ended december 31 , 2001 , were as follows ( in millions ) : ." ]

[ "transition adjustment on january 1 2001 the balance december 31 2001 of $ -93 ( 93 ) is $ -121 ( 121 ) ;" ]

[ [ "transition adjustment on january 1 2001", "$ -93 ( 93 )" ], [ "reclassification to earnings", "-32 ( 32 )" ], [ "change in fair value", "4" ], [ "balance december 31 2001", "$ -121 ( 121 )" ] ]

[ "reinsurance of gmdb and gmib guarantees our net income is directly impacted by changes in the reserves calculated in connection with the reinsurance of variable annuity guarantees , primarily gmdb and gmib .", "these reserves are calculated in accordance with sop 03-1 ( sop reserves ) and changes in these reserves are reflected as life and annuity benefit expense , which is included in life underwriting income .", "in addition , our net income is directly impacted by the change in the fair value of the gmib liability ( fvl ) , which is classified as a derivative according to fas 133 .", "the fair value liability established for a gmib reinsurance contract represents the differ- ence between the fair value of the contract and the sop 03-1 reserves .", "changes in the fair value of the gmib liability , net of associated changes in the calculated sop 03-1 reserve , are reflected as realized gains or losses .", "ace views our variable annuity reinsurance business as having a similar risk profile to that of catastrophe reinsurance , with the probability of long-term economic loss relatively small at the time of pricing .", "adverse changes in market factors and policyholder behavior will have an impact on both life underwriting income and net income .", "when evaluating these risks , we expect to be compensated for taking both the risk of a cumulative long-term economic net loss , as well as the short-term accounting variations caused by these market movements .", "therefore , we evaluate this business in terms of its long-term eco- nomic risk and reward .", "the ultimate risk to the variable annuity guaranty reinsurance business is a long-term underperformance of investment returns , which can be exacerbated by a long-term reduction in interest rates .", "following a market downturn , continued market underperformance over a period of five to seven years would eventually result in a higher level of paid claims as policyholders accessed their guarantees through death or annuitization .", "however , if market conditions improved following a downturn , sop 03-1 reserves and fair value liability would fall reflecting a decreased likelihood of future claims , which would result in an increase in both life underwriting income and net income .", "as of december 31 , 2008 , management established the sop 03-1 reserve based on the benefit ratio calculated using actual market values at december 31 , 2008 .", "management exercises judgment in determining the extent to which short-term market movements impact the sop 03-1 reserve .", "the sop 03-1 reserve is based on the calculation of a long-term benefit ratio ( or loss ratio ) for the variable annuity guarantee reinsurance .", "despite the long-term nature of the risk the benefit ratio calculation is impacted by short-term market movements that may be judged by management to be temporary or transient .", "management will , in keeping with the language in sop 03-1 , regularly examine both quantitative and qualitative analysis and management will determine if , in its judgment , the change in the calculated benefit ratio is of sufficient magnitude and has persisted for a sufficient duration to warrant a change in the benefit ratio used to establish the sop 03-1 reserve .", "this has no impact on either premium received or claims paid nor does it impact the long-term profit or loss of the variable annuity guaran- tee reinsurance .", "the sop 03-1 reserve and fair value liability calculations are directly affected by market factors , including equity levels , interest rate levels , credit risk and implied volatilities , as well as policyholder behaviors , such as annuitization and lapse rates .", "the table below shows the sensitivity , as of december 31 , 2008 , of the sop 03-1 reserves and fair value liability associated with the variable annuity guarantee reinsurance portfolio .", "in addition , the tables below show the sensitivity of the fair value of specific derivative instruments held ( hedge value ) , which includes instruments purchased in january 2009 , to partially offset the risk in the variable annuity guarantee reinsurance portfolio .", "although these derivatives do not receive hedge accounting treatment , some portion of the change in value may be used to offset changes in the sop 03-1 reserve. ." ]

[ "foreign currency exchange rate risk many of our non-u.s .", "companies maintain both assets and liabilities in local currencies .", "therefore , foreign exchange rate risk is generally limited to net assets denominated in those foreign currencies .", "foreign exchange rate risk is reviewed as part of our risk management process .", "locally required capital levels are invested in home currencies in order to satisfy regulatory require- ments and to support local insurance operations regardless of currency fluctuations .", "the principal currencies creating foreign exchange risk for us are the british pound sterling , the euro , and the canadian dollar .", "the following table provides more information on our exposure to foreign exchange rate risk at december 31 , 2008 and 2007. ." ]

[ "( in millions of u.s . dollars ) the fair value of net assets denominated in foreign currencies of 2008 is $ 1127 ; the fair value of net assets denominated in foreign currencies of 2007 is $ 1651 ;", "( in millions of u.s . dollars ) the percentage of fair value of total net assets of 2008 is 7.8% ( 7.8 % ) ; the percentage of fair value of total net assets of 2007 is 9.9% ( 9.9 % ) ;" ]

[ [ "( in millions of u.s . dollars )", "2008", "2007" ], [ "fair value of net assets denominated in foreign currencies", "$ 1127", "$ 1651" ], [ "percentage of fair value of total net assets", "7.8% ( 7.8 % )", "9.9% ( 9.9 % )" ], [ "pre-tax impact on equity of hypothetical 10 percent strengthening of the u.s . dollar", "$ 84", "$ 150" ] ]

[ "." ]

[ "be adjusted by reference to a grid ( the 201cpricing grid 201d ) based on the consolidated leverage ratio and ranges between 1.00% ( 1.00 % ) to 1.25% ( 1.25 % ) for adjusted libor loans and 0.00% ( 0.00 % ) to 0.25% ( 0.25 % ) for alternate base rate loans .", "the weighted average interest rate under the outstanding term loans and revolving credit facility borrowings was 1.6% ( 1.6 % ) and 1.3% ( 1.3 % ) during the years ended december 31 , 2016 and 2015 , respectively .", "the company pays a commitment fee on the average daily unused amount of the revolving credit facility and certain fees with respect to letters of credit .", "as of december 31 , 2016 , the commitment fee was 15.0 basis points .", "since inception , the company incurred and deferred $ 3.9 million in financing costs in connection with the credit agreement .", "3.250% ( 3.250 % ) senior notes in june 2016 , the company issued $ 600.0 million aggregate principal amount of 3.250% ( 3.250 % ) senior unsecured notes due june 15 , 2026 ( the 201cnotes 201d ) .", "the proceeds were used to pay down amounts outstanding under the revolving credit facility .", "interest is payable semi-annually on june 15 and december 15 beginning december 15 , 2016 .", "prior to march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount of the notes to be redeemed or a 201cmake-whole 201d amount applicable to such notes as described in the indenture governing the notes , plus accrued and unpaid interest to , but excluding , the redemption date .", "on or after march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to 100% ( 100 % ) of the principal amount of the notes to be redeemed , plus accrued and unpaid interest to , but excluding , the redemption date .", "the indenture governing the notes contains covenants , including limitations that restrict the company 2019s ability and the ability of certain of its subsidiaries to create or incur secured indebtedness and enter into sale and leaseback transactions and the company 2019s ability to consolidate , merge or transfer all or substantially all of its properties or assets to another person , in each case subject to material exceptions described in the indenture .", "the company incurred and deferred $ 5.3 million in financing costs in connection with the notes .", "other long term debt in december 2012 , the company entered into a $ 50.0 million recourse loan collateralized by the land , buildings and tenant improvements comprising the company 2019s corporate headquarters .", "the loan has a seven year term and maturity date of december 2019 .", "the loan bears interest at one month libor plus a margin of 1.50% ( 1.50 % ) , and allows for prepayment without penalty .", "the loan includes covenants and events of default substantially consistent with the company 2019s credit agreement discussed above .", "the loan also requires prior approval of the lender for certain matters related to the property , including transfers of any interest in the property .", "as of december 31 , 2016 and 2015 , the outstanding balance on the loan was $ 42.0 million and $ 44.0 million , respectively .", "the weighted average interest rate on the loan was 2.0% ( 2.0 % ) and 1.7% ( 1.7 % ) for the years ended december 31 , 2016 and 2015 , respectively .", "the following are the scheduled maturities of long term debt as of december 31 , 2016 : ( in thousands ) ." ]

[ "interest is payable semi-annually on june 15 and december 15 beginning december 15 , 2016 .", "prior to march 15 , 2026 ( three months prior to the maturity date of the notes ) , the company may redeem some or all of the notes at any time or from time to time at a redemption price equal to the greater of 100% ( 100 % ) of the principal amount of the notes to be redeemed or a 201cmake-whole 201d amount applicable to such notes as described in the indenture governing the notes , plus accrued and unpaid interest to , but excluding , the redemption date .", "2017 the current maturities of long term debt of $ 27000 is $ 27000 ;", "2017 the total scheduled maturities of long term debt of $ 27000 is $ 828250 ;" ]

[ [ "2017", "$ 27000" ], [ "2018", "27000" ], [ "2019", "63000" ], [ "2020", "25000" ], [ "2021", "86250" ], [ "2022 and thereafter", "600000" ], [ "total scheduled maturities of long term debt", "$ 828250" ], [ "current maturities of long term debt", "$ 27000" ] ]

[ "these amounts do not include percentage rentals based on tenants 2019 sales .", "these percentage rents approximated $ 8482000 , $ 7912000 and $ 8394000 , for the years ended december 31 , 2011 , 2010 and 2009 , respectively .", "none of our tenants accounted for more than 10% ( 10 % ) of total revenues in any of the years ended december 31 , 2011 , 2010 and 2009 .", "former bradlees locations pursuant to a master agreement and guaranty , dated may 1 , 1992 , we are due $ 5000000 per annum of additional rent from stop & shop which was allocated to certain bradlees former locations .", "on december 31 , 2002 , prior to the expiration of the leases to which the additional rent was allocated , we reallocated this rent to other former bradlees leases also guaranteed by stop & shop .", "stop & shop is contesting our right to reallocate and claims that we are no longer entitled to the additional rent .", "on november 7 , 2011 , the court determined that we have a continuing right to allocate the annual rent to unexpired leases covered by the master agreement and guaranty and directed entry of a judgment in our favor ordering stop & shop to pay us the unpaid annual rent ( see note 20 2013 commitments and contingencies 2013 litigation ) .", "as of december 31 , 2011 , we have a $ 41983000 receivable from stop and shop. ." ]

[ "vornado realty trust notes to consolidated financial statements ( continued ) 17 .", "leases as lessor : we lease space to tenants under operating leases .", "most of the leases provide for the payment of fixed base rentals payable monthly in advance .", "office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs .", "shopping center leases provide for pass-through to tenants the tenant 2019s share of real estate taxes , insurance and maintenance .", "shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants 2019 sales .", "as of december 31 , 2011 , future base rental revenue under non-cancelable operating leases , excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options , is as follows : ( amounts in thousands ) year ending december 31: ." ]

[ "these percentage rents approximated $ 8482000 , $ 7912000 and $ 8394000 , for the years ended december 31 , 2011 , 2010 and 2009 , respectively ." ]

[ [ "2012", "$ 1807885" ], [ "2013", "1718403" ], [ "2014", "1609279" ], [ "2015", "1425804" ], [ "2016", "1232154" ], [ "thereafter", "6045584" ] ]

[ "____________ 1 assumes that an investment in valero common stock and each index was $ 100 on december 31 , 2007 .", "201ccumulative total return 201d is based on share price appreciation plus reinvestment of dividends from december 31 , 2007 through december 31 , 2012. ." ]

[ "table of contents the following performance graph is not 201csoliciting material , 201d is not deemed filed with the sec , and is not to be incorporated by reference into any of valero 2019s filings under the securities act of 1933 or the securities exchange act of 1934 , as amended , respectively .", "this performance graph and the related textual information are based on historical data and are not indicative of future performance .", "the following line graph compares the cumulative total return 1 on an investment in our common stock against the cumulative total return of the s&p 500 composite index and an index of peer companies ( that we selected ) for the five-year period commencing december 31 , 2007 and ending december 31 , 2012 .", "our peer group consists of the following ten companies : alon usa energy , inc. ; bp plc ( bp ) ; cvr energy , inc. ; hess corporation ; hollyfrontier corporation ; marathon petroleum corporation ; phillips 66 ( psx ) ; royal dutch shell plc ( rds ) ; tesoro corporation ; and western refining , inc .", "our peer group previously included chevron corporation ( cvx ) and exxon mobil corporation ( xom ) but they were replaced with bp , psx , and rds .", "in 2012 , psx became an independent downstream energy company and was added to our peer group .", "cvx and xom were replaced with bp and rds as they were viewed as having operations that more closely aligned with our core businesses .", "comparison of 5 year cumulative total return1 among valero energy corporation , the s&p 500 index , old peer group , and new peer group ." ]

[ "the s&p 500 of 12/2007 is 100.00 ; the s&p 500 of 12/2008 is 63.00 ; the s&p 500 of 12/2009 is 79.67 ; the s&p 500 of 12/2010 is 91.67 ; the s&p 500 of 12/2011 is 93.61 ; the s&p 500 of 12/2012 is 108.59 ;" ]

[ [ "", "12/2007", "12/2008", "12/2009", "12/2010", "12/2011", "12/2012" ], [ "valero common stock", "$ 100.00", "$ 31.45", "$ 25.09", "$ 35.01", "$ 32.26", "$ 53.61" ], [ "s&p 500", "100.00", "63.00", "79.67", "91.67", "93.61", "108.59" ], [ "old peer group", "100.00", "80.98", "76.54", "88.41", "104.33", "111.11" ], [ "new peer group", "100.00", "66.27", "86.87", "72.84", "74.70", "76.89" ] ]

[ "fair value of financial instruments 2014as of december 31 , 2002 , the carrying amounts of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 210.9 million , $ 212.7 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 291.4 million , $ 187.2 million , $ 144.4 million and $ 780.0 million , respectively .", "as of december 31 , 2001 , the carrying amount of the company 2019s 5.0% ( 5.0 % ) convertible notes , the 2.25% ( 2.25 % ) convertible notes , the 6.25% ( 6.25 % ) convertible notes and the senior notes were approximately $ 450.0 million , $ 204.1 million , $ 212.8 million and $ 1.0 billion , respectively , and the fair values of such notes were $ 268.3 million , $ 173.1 million , $ 158.2 million and $ 805.0 million , respectively .", "fair values were determined based on quoted market prices .", "the carrying values of all other financial instruments reasonably approximate the related fair values as of december 31 , 2002 and 2001 .", "retirement plan 2014the company has a 401 ( k ) plan covering substantially all employees who meet certain age and employment requirements .", "under the plan , the company matches 35% ( 35 % ) of participants 2019 contributions up to a maximum 5% ( 5 % ) of a participant 2019s compensation .", "the company contributed approximately $ 979000 , $ 1540000 and $ 1593000 to the plan for the years ended december 31 , 2002 , 2001 and 2000 , respectively .", "recent accounting pronouncements 2014in june 2001 , the fasb issued sfas no .", "143 , 201caccounting for asset retirement obligations . 201d this statement establishes accounting standards for the recognition and measurement of liabilities associated with the retirement of tangible long-lived assets and the related asset retirement costs .", "the requirements of sfas no .", "143 are effective for the company as of january 1 , 2003 .", "the company will adopt this statement in the first quarter of 2003 and does not expect the impact of adopting this statement to have a material impact on its consolidated financial position or results of operations .", "in august 2001 , the fasb issued sfas no .", "144 , 201caccounting for the impairment or disposal of long-lived assets . 201d sfas no .", "144 supersedes sfas no .", "121 , 201caccounting for the impairment of long-lived assets and for long-lived assets to be disposed of , 201d but retains many of its fundamental provisions .", "sfas no .", "144 also clarifies certain measurement and classification issues from sfas no .", "121 .", "in addition , sfas no .", "144 supersedes the accounting and reporting provisions for the disposal of a business segment as found in apb no .", "30 , 201creporting the results of operations 2014reporting the effects of disposal of a segment of a business and extraordinary , unusual and infrequently occurring events and transactions 201d .", "however , sfas no .", "144 retains the requirement in apb no .", "30 to separately report discontinued operations , and broadens the scope of such requirement to include more types of disposal transactions .", "the scope of sfas no .", "144 excludes goodwill and other intangible assets that are not to be amortized , as the accounting for such items is prescribed by sfas no .", "142 .", "the company implemented sfas no .", "144 on january 1 , 2002 .", "accordingly , all relevant impairment assessments and decisions concerning discontinued operations have been made under this standard in 2002. ." ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) the following table illustrates the effect on net loss and net loss per share if the company had applied the fair value recognition provisions of sfas no .", "123 to stock-based compensation .", "the estimated fair value of each option is calculated using the black-scholes option-pricing model ( in thousands , except per share amounts ) : ." ]

[ "the company contributed approximately $ 979000 , $ 1540000 and $ 1593000 to the plan for the years ended december 31 , 2002 , 2001 and 2000 , respectively ." ]

[ [ "", "2002", "2001", "2000" ], [ "net loss as reported", "$ -1141879 ( 1141879 )", "$ -450094 ( 450094 )", "$ -194628 ( 194628 )" ], [ "less : total stock-based employee compensation expense determined under fair value basedmethod for all awards net of related tax effect", "-38126 ( 38126 )", "-50540 ( 50540 )", "-51186 ( 51186 )" ], [ "pro-forma net loss", "$ -1180005 ( 1180005 )", "$ -500634 ( 500634 )", "$ -245814 ( 245814 )" ], [ "basic and diluted net loss per share 2014as reported", "$ -5.84 ( 5.84 )", "$ -2.35 ( 2.35 )", "$ -1.15 ( 1.15 )" ], [ "basic and diluted net loss per share 2014pro-forma", "$ -6.04 ( 6.04 )", "$ -2.61 ( 2.61 )", "$ -1.46 ( 1.46 )" ] ]

[ "functional currency 2014as a result of changes to the organizational structure of the company 2019s subsidiaries in latin america in 2010 , the company determined that effective january 1 , 2010 , the functional currency of its foreign subsidiary in brazil is the brazilian real .", "from that point forward , all assets and liabilities held by the subsidiary in brazil are translated into u.s .", "dollars at the exchange rate in effect at the end of the applicable reporting period .", "revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in equity .", "the change in functional currency from u.s .", "dollars to brazilian real gave rise to an increase in the net value of certain non-monetary assets and liabilities .", "the aggregate impact on such assets and liabilities was $ 39.8 million with an offsetting increase in accumulated other comprehensive income during the year ended december 31 , 2010 .", "as a result of the renegotiation of the company 2019s agreements with grupo iusacell , s.a .", "de c.v .", "( 201ciusacell 201d ) , which included , among other changes , converting iusacell 2019s contractual obligations to the company from u.s .", "dollars to mexican pesos , the company determined that effective april 1 , 2010 , the functional currency of certain of its foreign subsidiaries in mexico is the mexican peso .", "from that point forward , all assets and liabilities held by those subsidiaries in mexico are translated into u.s .", "dollars at the exchange rate in effect at the end of the applicable reporting period .", "revenues and expenses are translated at the average monthly exchange rates and the cumulative translation effect is included in equity .", "the change in functional currency from u.s .", "dollars to mexican pesos gave rise to a decrease in the net value of certain non-monetary assets and liabilities .", "the aggregate impact on such assets and liabilities was $ 33.6 million with an offsetting decrease in accumulated other comprehensive income .", "the functional currency of the company 2019s other foreign operating subsidiaries is also the respective local currency .", "all assets and liabilities held by the subsidiaries are translated into u.s .", "dollars at the exchange rate in effect at the end of the applicable fiscal reporting period .", "revenues and expenses are translated at the average monthly exchange rates .", "the cumulative translation effect is included in equity as a component of accumulated other comprehensive income .", "foreign currency transaction gains and losses are recognized in the consolidated statements of operations and are the result of transactions of a subsidiary being denominated in a currency other than its functional currency .", "cash and cash equivalents 2014cash and cash equivalents include cash on hand , demand deposits and short-term investments , including money market funds , with remaining maturities of three months or less when acquired , whose cost approximates fair value .", "restricted cash 2014the company classifies as restricted cash all cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions , including cash on deposit in reserve accounts relating to the commercial mortgage pass-through certificates , series 2007-1 issued in the company 2019s securitization transaction and the secured cellular site revenue notes , series 2010-1 class c , series 2010-2 class c and series 2010-2 class f , assumed by the company as a result of the acquisition of certain legal entities from unison holdings , llc and unison site management ii , l.l.c .", "( collectively , 201cunison 201d ) . ." ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements when they are determined uncollectible .", "such determination includes analysis and consideration of the particular conditions of the account .", "changes in the allowances were as follows for the years ended december 31 , ( in thousands ) : ." ]

[ "the balance as of december 31 of 2012 is $ 20406 ; the balance as of december 31 of 2011 is $ 24412 ; the balance as of december 31 of 2010 is $ 22505 ;" ]

[ [ "", "2012", "2011", "2010" ], [ "balance as of january 1", "$ 24412", "$ 22505", "$ 28520" ], [ "current year increases", "8028", "17008", "16219" ], [ "write-offs net of recoveries and other", "-12034 ( 12034 )", "-15101 ( 15101 )", "-22234 ( 22234 )" ], [ "balance as of december 31", "$ 20406", "$ 24412", "$ 22505" ] ]

[ "in millions 2013 2012 additional collateral or termination payments for a one-notch downgrade $ 911 $ 1534 additional collateral or termination payments for a two-notch downgrade 2989 2500 cash flows as a global financial institution , our cash flows are complex and bear little relation to our net earnings and net assets .", "consequently , we believe that traditional cash flow analysis is less meaningful in evaluating our liquidity position than the excess liquidity and asset-liability management policies described above .", "cash flow analysis may , however , be helpful in highlighting certain macro trends and strategic initiatives in our businesses .", "year ended december 2013 .", "our cash and cash equivalents decreased by $ 11.54 billion to $ 61.13 billion at the end of 2013 .", "we generated $ 4.54 billion in net cash from operating activities .", "we used net cash of $ 16.08 billion for investing and financing activities , primarily to fund loans held for investment and repurchases of common stock .", "year ended december 2012 .", "our cash and cash equivalents increased by $ 16.66 billion to $ 72.67 billion at the end of 2012 .", "we generated $ 9.14 billion in net cash from operating and investing activities .", "we generated $ 7.52 billion in net cash from financing activities from an increase in bank deposits , partially offset by net repayments of unsecured and secured long-term borrowings .", "year ended december 2011 .", "our cash and cash equivalents increased by $ 16.22 billion to $ 56.01 billion at the end of 2011 .", "we generated $ 23.13 billion in net cash from operating and investing activities .", "we used net cash of $ 6.91 billion for financing activities , primarily for repurchases of our series g preferred stock and common stock , partially offset by an increase in bank deposits .", "goldman sachs 2013 annual report 89 ." ]

[ "management 2019s discussion and analysis we believe our credit ratings are primarily based on the credit rating agencies 2019 assessment of : 2030 our liquidity , market , credit and operational risk management practices ; 2030 the level and variability of our earnings ; 2030 our capital base ; 2030 our franchise , reputation and management ; 2030 our corporate governance ; and 2030 the external operating environment , including the assumed level of government support .", "certain of the firm 2019s derivatives have been transacted under bilateral agreements with counterparties who may require us to post collateral or terminate the transactions based on changes in our credit ratings .", "we assess the impact of these bilateral agreements by determining the collateral or termination payments that would occur assuming a downgrade by all rating agencies .", "a downgrade by any one rating agency , depending on the agency 2019s relative ratings of the firm at the time of the downgrade , may have an impact which is comparable to the impact of a downgrade by all rating agencies .", "we allocate a portion of our gce to ensure we would be able to make the additional collateral or termination payments that may be required in the event of a two-notch reduction in our long-term credit ratings , as well as collateral that has not been called by counterparties , but is available to them .", "the table below presents the additional collateral or termination payments related to our net derivative liabilities under bilateral agreements that could have been called at the reporting date by counterparties in the event of a one-notch and two-notch downgrade in our credit ratings. ." ]

[ "in millions the additional collateral or termination payments for a one-notch downgrade of as of december 2013 is $ 911 ; the additional collateral or termination payments for a one-notch downgrade of as of december 2012 is $ 1534 ;", "in millions the additional collateral or termination payments for a two-notch downgrade of as of december 2013 is 2989 ; the additional collateral or termination payments for a two-notch downgrade of as of december 2012 is 2500 ;" ]

[ [ "in millions", "as of december 2013", "as of december 2012" ], [ "additional collateral or termination payments for a one-notch downgrade", "$ 911", "$ 1534" ], [ "additional collateral or termination payments for a two-notch downgrade", "2989", "2500" ] ]

[ "( a ) accruing loans have demonstrated a period of at least six months of performance under the restructured terms and are excluded from nonperforming loans .", "loans where borrowers have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc are not returned to accrual status .", "table 71 quantifies the number of loans that were classified as tdrs as well as the change in the recorded investments as a result of the tdr classification during 2013 , 2012 and 2011 .", "additionally , the table provides information about the types of tdr concessions .", "the principal forgiveness tdr category includes principal forgiveness and accrued interest forgiveness .", "these types of tdrs result in a write down of the recorded investment and a charge-off if such action has not already taken place .", "the rate reduction tdr category includes reduced interest rate and interest deferral .", "the tdrs within this category would result in reductions to future interest income .", "the other tdr category primarily includes consumer borrowers that have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc , as well as postponement/reduction of scheduled amortization and contractual extensions for both consumer and commercial borrowers .", "in some cases , there have been multiple concessions granted on one loan .", "this is most common within the commercial loan portfolio .", "when there have been multiple concessions granted in the commercial loan portfolio , the principal forgiveness tdr was prioritized for purposes of determining the inclusion in the table below .", "for example , if there is principal forgiveness in conjunction with lower interest rate and postponement of amortization , the type of concession will be reported as principal forgiveness .", "second in priority would be rate reduction .", "for example , if there is an interest rate reduction in conjunction with postponement of amortization , the type of concession will be reported as a rate reduction .", "in the event that multiple concessions are granted on a consumer loan , concessions resulting from discharge from personal liability through chapter 7 bankruptcy without formal affirmation of the loan obligations to pnc would be prioritized and included in the other type of concession in the table below .", "after that , consumer loan concessions would follow the previously discussed priority of concessions for the commercial loan portfolio .", "140 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ "troubled debt restructurings ( tdrs ) a tdr is a loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties .", "tdrs result from our loss mitigation activities , and include rate reductions , principal forgiveness , postponement/reduction of scheduled amortization , and extensions , which are intended to minimize economic loss and to avoid foreclosure or repossession of collateral .", "additionally , tdrs also result from borrowers that have been discharged from personal liability through chapter 7 bankruptcy and have not formally reaffirmed their loan obligations to pnc .", "in those situations where principal is forgiven , the amount of such principal forgiveness is immediately charged off .", "some tdrs may not ultimately result in the full collection of principal and interest , as restructured , and result in potential incremental losses .", "these potential incremental losses have been factored into our overall alll estimate .", "the level of any subsequent defaults will likely be affected by future economic conditions .", "once a loan becomes a tdr , it will continue to be reported as a tdr until it is ultimately repaid in full , the collateral is foreclosed upon , or it is fully charged off .", "we held specific reserves in the alll of $ .5 billion and $ .6 billion at december 31 , 2013 and december 31 , 2012 , respectively , for the total tdr portfolio .", "table 70 : summary of troubled debt restructurings in millions dec .", "31 dec .", "31 ." ]

[ "in millions the nonperforming of dec . 312013 is $ 1511 ; the nonperforming of dec . 312012 is $ 1589 ;" ]

[ [ "in millions", "dec . 312013", "dec . 312012" ], [ "total consumer lending", "$ 2161", "$ 2318" ], [ "total commercial lending", "578", "541" ], [ "total tdrs", "$ 2739", "$ 2859" ], [ "nonperforming", "$ 1511", "$ 1589" ], [ "accruing ( a )", "1062", "1037" ], [ "credit card", "166", "233" ], [ "total tdrs", "$ 2739", "$ 2859" ] ]

[ "for our qualified defined-benefit pension plans , we have adopted accounting guidance that defines fair value , establishes a framework for measuring fair value and prescribes disclosures about fair value measurements .", "accounting guidance defines fair value as \"the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.\" following is a description of the valuation methodologies used for assets measured at fair value .", "there have been no changes in the methodologies used at december 31 , 2018 compared to december 31 , 2017 .", "common and preferred stocks and short-term and other investments : valued at the closing price reported on the active market on which the individual securities are traded or based on the active market for similar securities .", "certain investments are valued based on net asset value ( \"nav\" ) , which approximates fair value .", "such basis is determined by referencing the respective fund's underlying assets .", "there are no unfunded commitments or other restrictions associated with these investments .", "private equity and hedge funds : valued based on an estimated fair value using either a market approach or an income approach , both of which require a significant degree of judgment .", "there is no active trading market for these investments and they are generally illiquid .", "due to the significant unobservable inputs , the fair value measurements used to estimate fair value are a level 3 input .", "certain investments are valued based on nav , which approximates fair value .", "such basis is determined by referencing the respective fund's underlying assets .", "there are no unfunded commitments or other restrictions associated with the investments valued at nav .", "corporate , government and other debt securities : valued based on either the closing price reported on the active market on which the individual securities are traded or using pricing models maximizing the use of observable inputs for similar securities .", "this includes basing value on yields currently available on comparable securities of issuers with similar credit ratings .", "certain investments are valued based on nav , which approximates fair value .", "such basis is determined by referencing the respective fund's underlying assets .", "there are unfunded commitments of $ 1 million and no other restrictions associated with these investments .", "common collective trust fund : valued based on an amortized cost basis , which approximates fair value .", "such basis is determined by reference to the respective fund's underlying assets , which are primarily cash equivalents .", "there are no unfunded commitments or other restrictions associated with this fund .", "buy-in annuity : valued based on the associated benefit obligation for which the buy-in annuity covers the benefits , which approximates fair value .", "such basis is determined based on various assumptions , including the discount rate , long-term rate of return on plan assets and mortality rate .", "the methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values .", "furthermore , while we believe our valuation methods are appropriate and consistent with other market participants , the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date .", "the following tables set forth , by level within the fair value hierarchy , the qualified defined-benefit pension plan assets at fair value as of december 31 , 2018 and 2017 , as well as those valued at nav using the practical expedient , which approximates fair value , in millions. ." ]

[ "masco corporation notes to consolidated financial statements ( continued ) m .", "employee retirement plans ( continued ) plan assets .", "our qualified defined-benefit pension plan weighted average asset allocation , which is based upon fair value , was as follows: ." ]

[ "the debt securities of 2018 is 49% ( 49 % ) ; the debt securities of 2017 is 28% ( 28 % ) ;" ]

[ [ "", "2018", "2017" ], [ "equity securities", "34% ( 34 % )", "55% ( 55 % )" ], [ "debt securities", "49% ( 49 % )", "28% ( 28 % )" ], [ "other", "17% ( 17 % )", "17% ( 17 % )" ], [ "total", "100% ( 100 % )", "100% ( 100 % )" ] ]

[ "." ]

[ "in january 2016 , the company issued $ 800 million of debt securities consisting of a $ 400 million aggregate principal three year fixed rate note with a coupon rate of 2.00% ( 2.00 % ) and a $ 400 million aggregate principal seven year fixed rate note with a coupon rate of 3.25% ( 3.25 % ) .", "the proceeds were used to repay a portion of the company 2019s outstanding commercial paper , repay the remaining term loan balance , and for general corporate purposes .", "the company 2019s public notes and 144a notes may be redeemed by the company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium .", "upon the occurrence of a change of control accompanied by a downgrade of the notes below investment grade rating , within a specified time period , the company would be required to offer to repurchase the public notes and 144a notes at a price equal to 101% ( 101 % ) of the aggregate principal amount thereof , plus any accrued and unpaid interest to the date of repurchase .", "the public notes and 144a notes are senior unsecured and unsubordinated obligations of the company and rank equally with all other senior and unsubordinated indebtedness of the company .", "the company entered into a registration rights agreement in connection with the issuance of the 144a notes .", "subject to certain limitations set forth in the registration rights agreement , the company has agreed to ( i ) file a registration statement ( the 201cexchange offer registration statement 201d ) with respect to registered offers to exchange the 144a notes for exchange notes ( the 201cexchange notes 201d ) , which will have terms identical in all material respects to the new 10-year notes and new 30-year notes , as applicable , except that the exchange notes will not contain transfer restrictions and will not provide for any increase in the interest rate thereon in certain circumstances and ( ii ) use commercially reasonable efforts to cause the exchange offer registration statement to be declared effective within 270 days after the date of issuance of the 144a notes .", "until such time as the exchange offer registration statement is declared effective , the 144a notes may only be sold in accordance with rule 144a or regulation s of the securities act of 1933 , as amended .", "private notes the company 2019s private notes may be redeemed by the company at its option at redemption prices that include accrued and unpaid interest and a make-whole premium .", "upon the occurrence of specified changes of control involving the company , the company would be required to offer to repurchase the private notes at a price equal to 100% ( 100 % ) of the aggregate principal amount thereof , plus any accrued and unpaid interest to the date of repurchase .", "additionally , the company would be required to make a similar offer to repurchase the private notes upon the occurrence of specified merger events or asset sales involving the company , when accompanied by a downgrade of the private notes below investment grade rating , within a specified time period .", "the private notes are unsecured senior obligations of the company and rank equal in right of payment with all other senior indebtedness of the company .", "the private notes shall be unconditionally guaranteed by subsidiaries of the company in certain circumstances , as described in the note purchase agreements as amended .", "other debt during 2015 , the company acquired the beneficial interest in the trust owning the leased naperville facility resulting in debt assumption of $ 100.2 million and the addition of $ 135.2 million in property , plant and equipment .", "certain administrative , divisional , and research and development personnel are based at the naperville facility .", "cash paid as a result of the transaction was $ 19.8 million .", "the assumption of debt and the majority of the property , plant and equipment addition represented non-cash financing and investing activities , respectively .", "the remaining balance on the assumed debt was settled in december 2017 and was reflected in the \"other\" line of the table above at december 31 , 2016 .", "covenants and future maturities the company is in compliance with all covenants under the company 2019s outstanding indebtedness at december 31 , 2017 .", "as of december 31 , 2017 , the aggregate annual maturities of long-term debt for the next five years were : ( millions ) ." ]

[ "in january 2016 , the company issued $ 800 million of debt securities consisting of a $ 400 million aggregate principal three year fixed rate note with a coupon rate of 2.00% ( 2.00 % ) and a $ 400 million aggregate principal seven year fixed rate note with a coupon rate of 3.25% ( 3.25 % ) ." ]

[ [ "2018", "$ 550" ], [ "2019", "397" ], [ "2020", "300" ], [ "2021", "1017" ], [ "2022", "497" ] ]

[ "." ]

[ "apple inc .", "| 2016 form 10-k | 20 company stock performance the following graph shows a comparison of cumulative total shareholder return , calculated on a dividend reinvested basis , for the company , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index for the five years ended september 24 , 2016 .", "the graph assumes $ 100 was invested in each of the company 2019s common stock , the s&p 500 index , the s&p information technology index and the dow jones u.s .", "technology supersector index as of the market close on september 23 , 2011 .", "note that historic stock price performance is not necessarily indicative of future stock price performance .", "* $ 100 invested on 9/23/11 in stock or index , including reinvestment of dividends .", "data points are the last day of each fiscal year for the company 2019s common stock and september 30th for indexes .", "copyright a9 2016 s&p , a division of mcgraw hill financial .", "all rights reserved .", "copyright a9 2016 dow jones & co .", "all rights reserved .", "september september september september september september ." ]

[ "the dow jones u.s . technology supersector index of september2011 is $ 100 ; the dow jones u.s . technology supersector index of september2012 is $ 130 ; the dow jones u.s . technology supersector index of september2013 is $ 137 ; the dow jones u.s . technology supersector index of september2014 is $ 178 ; the dow jones u.s . technology supersector index of september2015 is $ 177 ; the dow jones u.s . technology supersector index of september2016 is $ 217 ;" ]

[ [ "", "september2011", "september2012", "september2013", "september2014", "september2015", "september2016" ], [ "apple inc .", "$ 100", "$ 166", "$ 123", "$ 183", "$ 212", "$ 213" ], [ "s&p 500 index", "$ 100", "$ 130", "$ 155", "$ 186", "$ 185", "$ 213" ], [ "s&p information technology index", "$ 100", "$ 132", "$ 142", "$ 183", "$ 187", "$ 230" ], [ "dow jones u.s . technology supersector index", "$ 100", "$ 130", "$ 137", "$ 178", "$ 177", "$ 217" ] ]

[ "( a ) includes $ 2.3 billion relating to fiber supply agreements entered into at the time of the company 2019s 2006 transformation plan forestland sales and in conjunction with the 2008 acquisition of weyerhaeuser company 2019s containerboard , packaging and recycling business .", "rent expense was $ 154 million , $ 168 million and $ 185 million for 2014 , 2013 and 2012 , respectively .", "guarantees in connection with sales of businesses , property , equipment , forestlands and other assets , international paper commonly makes representations and warranties relating to such businesses or assets , and may agree to indemnify buyers with respect to tax and environmental liabilities , breaches of representations and warranties , and other matters .", "where liabilities for such matters are determined to be probable and subject to reasonable estimation , accrued liabilities are recorded at the time of sale as a cost of the transaction .", "environmental proceedings cercla and state actions international paper has been named as a potentially responsible party in environmental remediation actions under various federal and state laws , including the comprehensive environmental response , compensation and liability act ( cercla ) .", "many of these proceedings involve the cleanup of hazardous substances at large commercial landfills that received waste from many different sources .", "while joint and several liability is authorized under cercla and equivalent state laws , as a practical matter , liability for cercla cleanups is typically allocated among the many potential responsible parties .", "remedial costs are recorded in the consolidated financial statements when they become probable and reasonably estimable .", "international paper has estimated the probable liability associated with these matters to be approximately $ 95 million in the aggregate as of december 31 , 2014 .", "cass lake : one of the matters referenced above is a closed wood treating facility located in cass lake , minnesota .", "during 2009 , in connection with an environmental site remediation action under cercla , international paper submitted to the epa a remediation feasibility study .", "in june 2011 , the epa selected and published a proposed soil remedy at the site with an estimated cost of $ 46 million .", "the overall remediation reserve for the site is currently $ 50 million to address the selection of an alternative for the soil remediation component of the overall site remedy .", "in october 2011 , the epa released a public statement indicating that the final soil remedy decision would be delayed .", "in the unlikely event that the epa changes its proposed soil remedy and approves instead a more expensive clean- up alternative , the remediation costs could be material , and significantly higher than amounts currently recorded .", "in october 2012 , the natural resource trustees for this site provided notice to international paper and other potentially responsible parties of their intent to perform a natural resource damage assessment .", "it is premature to predict the outcome of the assessment or to estimate a loss or range of loss , if any , which may be incurred .", "other remediation costs in addition to the above matters , other remediation costs typically associated with the cleanup of hazardous substances at the company 2019s current , closed or formerly-owned facilities , and recorded as liabilities in the balance sheet , totaled approximately $ 41 million as of december 31 , 2014 .", "other than as described above , completion of required remedial actions is not expected to have a material effect on our consolidated financial statements .", "legal proceedings environmental kalamazoo river : the company is a potentially responsible party with respect to the allied paper , inc./ portage creek/kalamazoo river superfund site ( kalamazoo river superfund site ) in michigan .", "the epa asserts that the site is contaminated primarily by pcbs as a result of discharges from various paper mills located along the kalamazoo river , including a paper mill formerly owned by st .", "regis paper company ( st .", "regis ) .", "the company is a successor in interest to st .", "regis .", "although the company has not received any orders from the epa , in december 2014 , the epa sent the company a letter demanding payment of $ 19 million to reimburse the epa for costs associated with a time critical removal action of pcb contaminated sediments from a portion of the site .", "the company 2019s cercla liability has not been finally determined with respect to this or any other portion of the site and we have declined to reimburse the epa at this time .", "as noted below , the company is involved in allocation/ apportionment litigation with regard to the site .", "accordingly , it is premature to estimate a loss or range of loss with respect to this site .", "the company was named as a defendant by georgia- pacific consumer products lp , fort james corporation and georgia pacific llc in a contribution and cost recovery action for alleged pollution at the site .", "the suit ." ]

[ "at december 31 , 2014 , total future minimum commitments under existing non-cancelable operating leases and purchase obligations were as follows: ." ]

[ "in millions the lease obligations of 2015 is $ 142 ; the lease obligations of 2016 is $ 106 ; the lease obligations of 2017 is $ 84 ; the lease obligations of 2018 is $ 63 ; the lease obligations of 2019 is $ 45 ; the lease obligations of thereafter is $ 91 ;", "in millions the total of 2015 is $ 3408 ; the total of 2016 is $ 867 ; the total of 2017 is $ 667 ; the total of 2018 is $ 526 ; the total of 2019 is $ 467 ; the total of thereafter is $ 1781 ;" ]

[ [ "in millions", "2015", "2016", "2017", "2018", "2019", "thereafter" ], [ "lease obligations", "$ 142", "$ 106", "$ 84", "$ 63", "$ 45", "$ 91" ], [ "purchase obligations ( a )", "3266", "761", "583", "463", "422", "1690" ], [ "total", "$ 3408", "$ 867", "$ 667", "$ 526", "$ 467", "$ 1781" ] ]

[ "through standardization of core functions , we believe we can minimize variability in our maintenance processes resulting in higher vehicle quality while extending the service life of our fleet .", "we believe operating a more reliable , safer and efficient fleet will lower our operating costs .", "we have completed implementation of standardized maintenance programs for approximately 45% ( 45 % ) of our fleet maintenance operations as of december 31 , 2013 .", "cash utilization strategy key components of our cash utilization strategy include increasing free cash flow and improving our return on invested capital .", "our definition of free cash flow , which is not a measure determined in accordance with united states generally accepted accounting principles ( u.s .", "gaap ) , is cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows .", "for a discussion and reconciliation of free cash flow , you should read the 201cfree cash flow 201d section of our management 2019s discussion and analysis of financial condition and results of operations contained in item 7 of this form 10-k .", "we believe free cash flow drives shareholder value and provides useful information regarding the recurring cash provided by our operations .", "free cash flow also demonstrates our ability to execute our cash utilization strategy , which includes investments in acquisitions and returning a majority of free cash flow to our shareholders through dividends and share repurchases .", "we are committed to an efficient capital structure and maintaining our investment grade rating .", "we manage our free cash flow by ensuring that capital expenditures and operating asset levels are appropriate in light of our existing business and growth opportunities , as well as by closely managing our working capital , which consists primarily of accounts receivable , accounts payable , and accrued landfill and environmental costs. ." ]

[ "fleet automation approximately 66% ( 66 % ) of our residential routes have been converted to automated single driver trucks .", "by converting our residential routes to automated service , we reduce labor costs , improve driver productivity and create a safer work environment for our employees .", "additionally , communities using automated vehicles have higher participation rates in recycling programs , thereby complementing our initiative to expand our recycling capabilities .", "fleet conversion to compressed natural gas ( cng ) approximately 12% ( 12 % ) of our fleet operates on natural gas .", "we expect to continue our gradual fleet conversion to cng , our preferred alternative fuel technology , as part of our ordinary annual fleet replacement process .", "we believe a gradual fleet conversion is most prudent to realize the full value of our previous fleet investments .", "approximately 50% ( 50 % ) of our replacement vehicle purchases during 2013 were cng vehicles .", "we believe using cng vehicles provides us a competitive advantage in communities with strict clean emission objectives or initiatives that focus on protecting the environment .", "although upfront costs are higher , we expect that using natural gas will reduce our overall fleet operating costs through lower fuel expenses .", "standardized maintenance based on an industry trade publication , we operate the eighth largest vocational fleet in the united states .", "as of december 31 , 2013 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles average age ." ]

[ "the total of approximate number of vehicles is 15500 ; the total of average age is 7 ;", "fleet automation approximately 66% ( 66 % ) of our residential routes have been converted to automated single driver trucks .", "fleet conversion to compressed natural gas ( cng ) approximately 12% ( 12 % ) of our fleet operates on natural gas ." ]

[ [ "", "approximate number of vehicles", "average age" ], [ "residential", "7600", "7" ], [ "commercial", "4300", "6" ], [ "industrial", "3600", "9" ], [ "total", "15500", "7" ] ]

[ "( a ) within the company 2019s 2006 annual report , the consolidated statement of changes in shareholders 2019 equity for the year ended december 31 , 2006 , included a transition adjustment of $ 47.9 million , net of tax , related to the adoption of sfas no .", "158 , 201cemployers 2019 accounting for defined benefit pension plans and other postretirement plans , an amendment of fasb statements no .", "87 , 88 , 106 and 132 ( r ) , 201d as a component of 2006 comprehensive earnings rather than only as an adjustment to accumulated other comprehensive loss .", "the 2006 amounts have been revised to correct the previous reporting .", "notwithstanding the 2005 distribution pursuant to the jobs act , management 2019s intention is to indefinitely reinvest foreign earnings .", "therefore , no taxes have been provided on the foreign currency translation component for any period .", "the change in the pension and other postretirement items is presented net of related tax expense of $ 31.3 million and $ 2.9 million for 2007 and 2006 , respectively , and a related tax benefit of $ 27.3 million for 2005 .", "the change in the effective financial derivatives is presented net of related tax benefit of $ 3.2 million for 2007 , related tax expense of $ 5.7 million for 2006 and related tax benefit of $ 10.7 million for 2005 .", "stock-based compensation programs effective january 1 , 2006 , ball adopted sfas no .", "123 ( revised 2004 ) , 201cshare based payment , 201d which is a revision of sfas no .", "123 and supersedes apb opinion no .", "25 .", "the new standard establishes accounting standards for transactions in which an entity exchanges its equity instruments for goods or services , including stock option and restricted stock grants .", "the major differences for ball are that ( 1 ) expense is now recorded in the consolidated statements of earnings for the fair value of new stock option grants and nonvested portions of grants made prior to january 1 , 2006 , and ( 2 ) the company 2019s deposit share program ( discussed below ) is no longer a variable plan that is marked to current market value each month through earnings .", "upon adoption of sfas no .", "123 ( revised 2004 ) , ball has chosen to use the modified prospective transition method and the black-scholes valuation model. ." ]

[ "page 71 of 94 notes to consolidated financial statements ball corporation and subsidiaries 16 .", "shareholders 2019 equity ( continued ) on october 24 , 2007 , ball announced the discontinuance of the company 2019s discount on the reinvestment of dividends associated with the company 2019s dividend reinvestment and voluntary stock purchase plan for non- employee shareholders .", "the 5 percent discount was discontinued on november 1 , 2007 .", "accumulated other comprehensive earnings ( loss ) the activity related to accumulated other comprehensive earnings ( loss ) was as follows : ( $ in millions ) foreign currency translation pension and postretirement items , net of tax effective financial derivatives , net of tax accumulated comprehensive earnings ( loss ) ." ]

[ "( $ in millions ) the december 31 2005 of foreign currency translation is 74.6 ; the december 31 2005 of pension and other postretirement items net of tax is -169.9 ( 169.9 ) ; the december 31 2005 of effective financial derivatives net of tax is -5.4 ( 5.4 ) ; the december 31 2005 of accumulated other comprehensive earnings ( loss ) is -100.7 ( 100.7 ) ;", "( $ in millions ) the december 31 2006 of foreign currency translation is 131.8 ; the december 31 2006 of pension and other postretirement items net of tax is -161.9 ( 161.9 ) ; the december 31 2006 of effective financial derivatives net of tax is 0.6 ; the december 31 2006 of accumulated other comprehensive earnings ( loss ) is -29.5 ( 29.5 ) ;" ]

[ [ "( $ in millions )", "foreign currency translation", "pension and other postretirement items net of tax", "effective financial derivatives net of tax", "accumulated other comprehensive earnings ( loss )" ], [ "december 31 2004", "$ 148.9", "$ -126.3 ( 126.3 )", "$ 10.6", "$ 33.2" ], [ "2005 change", "-74.3 ( 74.3 )", "-43.6 ( 43.6 )", "-16.0 ( 16.0 )", "-133.9 ( 133.9 )" ], [ "december 31 2005", "74.6", "-169.9 ( 169.9 )", "-5.4 ( 5.4 )", "-100.7 ( 100.7 )" ], [ "2006 change", "57.2", "55.9", "6.0", "119.1" ], [ "effect of sfas no . 158 adoption ( a )", "2013", "-47.9 ( 47.9 )", "2013", "-47.9 ( 47.9 )" ], [ "december 31 2006", "131.8", "-161.9 ( 161.9 )", "0.6", "-29.5 ( 29.5 )" ], [ "2007 change", "90.0", "57.9", "-11.5 ( 11.5 )", "136.4" ], [ "december 31 2007", "$ 221.8", "$ -104.0 ( 104.0 )", "$ -10.9 ( 10.9 )", "$ 106.9" ] ]

[ "( 1 ) the company determines the adjustment for taxes on international operations based on the difference between the statutory tax rate applicable to earnings in each foreign jurisdiction and the enacted rate of 19.0% ( 19.0 % ) , 19.3% ( 19.3 % ) and 20.0% ( 20.0 % ) at december 31 , 2018 , 2017 , and 2016 , respectively .", "the benefit to the company 2019s effective income tax rate from taxes on international operations relates to benefits from lower-taxed global operations , primarily due to the use of global funding structures and the tax holiday in singapore .", "the impact decreased from 2017 to 2018 primarily as a result of the decrease in the u.s .", "federal tax ( 2 ) with the adoption of asu 2016-09 in 2017 , excess tax benefits and deficiencies from share-based payment transactions are recognized as income tax expense or benefit in the company 2019s consolidated statements of income .", "( 3 ) the impact of the tax reform act including the transition tax , the re-measurement of u.s .", "deferred tax assets and liabilities from 35% ( 35 % ) to 21% ( 21 % ) , withholding tax accruals , and the allocation of tax benefit between continuing operations and discontinued operations related to utilization of foreign tax credits. ." ]

[ "." ]

[ "years ended december 31 the statutory tax rate of 2018 is 19.0% ( 19.0 % ) ; the statutory tax rate of 2017 is 19.3% ( 19.3 % ) ; the statutory tax rate of 2016 is 20.0% ( 20.0 % ) ;", "years ended december 31 the effective tax rate of 2018 is 11.7% ( 11.7 % ) ; the effective tax rate of 2017 is 36.5% ( 36.5 % ) ; the effective tax rate of 2016 is 10.6% ( 10.6 % ) ;" ]

[ [ "years ended december 31", "2018", "2017", "2016" ], [ "statutory tax rate", "19.0% ( 19.0 % )", "19.3% ( 19.3 % )", "20.0% ( 20.0 % )" ], [ "u.s . state income taxes net of u.s . federal benefit", "-0.4 ( 0.4 )", "-1.5 ( 1.5 )", "0.4" ], [ "taxes on international operations ( 1 )", "-7.3 ( 7.3 )", "-30.3 ( 30.3 )", "-12.2 ( 12.2 )" ], [ "nondeductible expenses", "2.7", "3.4", "1.4" ], [ "adjustments to prior year tax requirements", "0.9", "2.0", "-1.2 ( 1.2 )" ], [ "adjustments to valuation allowances", "3.8", "-1.8 ( 1.8 )", "-2.2 ( 2.2 )" ], [ "change in uncertain tax positions", "0.9", "1.6", "3.2" ], [ "excess tax benefits related to shared based compensation ( 2 )", "-3.6 ( 3.6 )", "-8.0 ( 8.0 )", "2014" ], [ "u.s . tax reform impact ( 3 )", "7.1", "51.2", "2014" ], [ "loss on disposition", "-10.2 ( 10.2 )", "2014", "2014" ], [ "other 2014 net", "-1.2 ( 1.2 )", "0.6", "1.2" ], [ "effective tax rate", "11.7% ( 11.7 % )", "36.5% ( 36.5 % )", "10.6% ( 10.6 % )" ] ]

[ "aon corporation ." ]

[ "notes to consolidated financial statements at december 31 , 2007 , future minimum rental payments required under operating leases for continuing operations that have initial or remaining noncancelable lease terms in excess of one year , net of sublease rental income , most of which pertain to real estate leases , are as follows : ( millions ) ." ]

[ "2008 the 2009 of $ 317 is 275 ;" ]

[ [ "2008", "$ 317" ], [ "2009", "275" ], [ "2010", "236" ], [ "2011", "214" ], [ "2012", "191" ], [ "later years", "597" ], [ "total minimum payments required", "$ 1830" ] ]

[ "the company provides limited postemployment benefits to eligible former u.s .", "employees , primarily severance under a formal severance plan ( the 201cseverance plan 201d ) .", "the company accounts for severance expense by accruing the expected cost of the severance benefits expected to be provided to former employees after employment over their relevant service periods .", "the company updates the assumptions in determining the severance accrual by evaluating the actual severance activity and long-term trends underlying the assumptions .", "as a result of updating the assumptions , the company recorded incremental severance expense ( benefit ) related to the severance plan of $ 3471 , $ 2643 and $ ( 3418 ) , respectively , during the years 2009 , 2008 and 2007 .", "these amounts were part of total severance expenses of $ 135113 , $ 32997 and $ 21284 in 2009 , 2008 and 2007 , respectively , included in general and administrative expenses in the accompanying consolidated statements of operations .", "note 14 .", "debt on april 28 , 2008 , the company extended its committed unsecured revolving credit facility , dated as of april 28 , 2006 ( the 201ccredit facility 201d ) , for an additional year .", "the new expiration date of the credit facility is april 26 , 2011 .", "the available funding under the credit facility will remain at $ 2500000 through april 27 , 2010 and then decrease to $ 2000000 during the final year of the credit facility agreement .", "other terms and conditions in the credit facility remain unchanged .", "the company 2019s option to request that each lender under the credit facility extend its commitment was provided pursuant to the original terms of the credit facility agreement .", "borrowings under the facility are available to provide liquidity in the event of one or more settlement failures by mastercard international customers and , subject to a limit of $ 500000 , for general corporate purposes .", "the facility fee and borrowing cost are contingent upon the company 2019s credit rating .", "at december 31 , 2009 , the facility fee was 7 basis points on the total commitment , or approximately $ 1774 annually .", "interest on borrowings under the credit facility would be charged at the london interbank offered rate ( libor ) plus an applicable margin of 28 basis points or an alternative base rate , and a utilization fee of 10 basis points would be charged if outstanding borrowings under the facility exceed 50% ( 50 % ) of commitments .", "at the inception of the credit facility , the company also agreed to pay upfront fees of $ 1250 and administrative fees of $ 325 , which are being amortized over five years .", "facility and other fees associated with the credit facility totaled $ 2222 , $ 2353 and $ 2477 for each of the years ended december 31 , 2009 , 2008 and 2007 , respectively .", "mastercard was in compliance with the covenants of the credit facility and had no borrowings under the credit facility at december 31 , 2009 or december 31 , 2008 .", "the majority of credit facility lenders are members or affiliates of members of mastercard international .", "in june 1998 , mastercard international issued ten-year unsecured , subordinated notes ( the 201cnotes 201d ) paying a fixed interest rate of 6.67% ( 6.67 % ) per annum .", "mastercard repaid the entire principal amount of $ 80000 on june 30 , 2008 pursuant to the terms of the notes .", "the interest expense on the notes was $ 2668 and $ 5336 for each of the years ended december 31 , 2008 and 2007 , respectively. ." ]

[ "mastercard incorporated notes to consolidated financial statements 2014 ( continued ) ( in thousands , except percent and per share data ) the company does not make any contributions to its postretirement plan other than funding benefits payments .", "the following table summarizes expected net benefit payments from the company 2019s general assets through 2019 : benefit payments expected subsidy receipts benefit payments ." ]

[ "the 2011 of benefit payments is 3028 ; the 2011 of expected subsidy receipts is 91 ; the 2011 of net benefit payments is 2937 ;", "the 2012 of benefit payments is 3369 ; the 2012 of expected subsidy receipts is 111 ; the 2012 of net benefit payments is 3258 ;" ]

[ [ "", "benefit payments", "expected subsidy receipts", "net benefit payments" ], [ "2010", "$ 2714", "$ 71", "$ 2643" ], [ "2011", "3028", "91", "2937" ], [ "2012", "3369", "111", "3258" ], [ "2013", "3660", "134", "3526" ], [ "2014", "4019", "151", "3868" ], [ "2015 2013 2019", "22686", "1071", "21615" ] ]

[ "." ]

[ "d u k e r e a l t y c o r p o r a t i o n 2 8 2 0 0 2 a n n u a l r e p o r t notes to consolidated financial statements the company recognizes income on long-term construction contracts where the company serves as a general contractor on the percentage of completion method .", "using this method , profits are recorded on the basis of the company 2019s estimates of the percentage of completion of individual contracts , commencing when progress reaches a point where experience is sufficient to estimate final results with reasonable accuracy .", "that portion of the estimated earnings is accrued on the basis of the company 2019s estimates of the percentage of completion based on contract expenditures incurred and work performed .", "property sales gains from sales of depreciated property are recognized in accordance with statement of financial accounting standards ( 201csfas 201d ) no .", "66 , and are included in earnings from sales of land and depreciable property dispositions , net of impairment adjustment , in the statement of operations if identified as held for sale prior to adoption of sfas 144 and in discontinued operations if identified as held for sale after adoption of sfas 144 .", "gains or losses from the sale of property which is considered held for sale in dclp are recognized in accordance with sfas 66 and are included in construction management and development activity income in the statement of operations .", "net income per common share basic net income per common share is computed by dividing net income available for common shares by the weighted average number of common shares outstanding for the period .", "diluted net income per share is computed by dividing the sum of net income available for common shares and minority interest in earnings of unitholders , by the sum of the weighted average number of common shares and units outstanding and dilutive potential common shares for the period .", "the following table reconciles the components of basic and diluted net income per share ( in thousands ) : the series d convertible preferred stock and the series g convertible preferred limited partner units were anti-dilutive for the years ended december 31 , 2002 , 2001 and 2000 ; therefore , no conversion to common shares is included in weighted dilutive potential common shares .", "in september 2002 , the company redeemed the series g convertible preferred units at their par value of $ 35.0 million .", "a joint venture partner in one of the company 2019s unconsolidated companies has the option to convert a portion of its ownership to company common shares ( see discussion in investments in unconsolidated companies section ) .", "the effect of the option on earnings per share was dilutive for the year ended december 31 , 2001 ; therefore , conversion to common shares is included in weighted dilutive potential common shares .", "federal income taxes the company has elected to be taxed as a real estate investment trust ( 201creit 201d ) under the internal revenue code .", "to qualify as a reit , the company must meet a number of organizational and operational requirements , including a requirement that it currently distribute at least 90% ( 90 % ) of its taxable income to its stockholders .", "management intends to continue to adhere to these requirements and to maintain the company 2019s reit status .", "as a reit , the company is entitled to a tax deduction for some or all of the dividends it pays to its shareholders .", "accordingly , the company generally will not be subject to federal income taxes as long as it distributes an amount equal to or in excess of its taxable income currently to its stockholders .", "a reit generally is subject to federal income taxes on any taxable income that is not currently distributed to its shareholders .", "if the company fails to qualify as a reit in any taxable year , it will be subject to federal income taxes and may not be able to qualify as a reit for four subsequent taxable years .", "reit qualification reduces , but does not eliminate , the amount of state and local taxes paid by the company .", "in addition , the company 2019s financial statements include the operations of taxable corporate subsidiaries that are not entitled to a dividends paid deduction and are subject to corporate federal , state and local income taxes .", "as a reit , the company may also be subject to certain federal excise taxes if it engages in certain types of transactions. ." ]

[ "the basic net income available for common shares of 2002 is $ 161272 ; the basic net income available for common shares of 2001 is $ 229967 ; the basic net income available for common shares of 2000 is $ 212958 ;" ]

[ [ "", "2002", "2001", "2000" ], [ "basic net income available for common shares", "$ 161272", "$ 229967", "$ 212958" ], [ "joint venture partner convertible ownership net income", "2014", "3423", "2014" ], [ "minority interest in earnings of common unitholders", "18568", "32463", "32071" ], [ "diluted net income available for common shares and dilutive potential common shares", "$ 179840", "$ 265853", "$ 245029" ], [ "weighted average number of common shares outstanding", "133981", "129660", "126836" ], [ "weighted average partnership units outstanding", "15442", "18301", "19070" ], [ "joint venture partner convertible ownership common share equivalents", "2014", "2092", "2014" ], [ "dilutive shares for stock-based compensation plans", "1416", "1657", "1535" ], [ "weighted average number of common shares and dilutive potential common shares", "150839", "151710", "147441" ] ]

[ "as of september 29 , 2012 , the company had $ 121.3 billion in cash , cash equivalents and marketable securities , an increase of $ 39.7 billion or 49% ( 49 % ) from september 24 , 2011 .", "the principal components of this net increase was the cash generated by operating activities of $ 50.9 billion , which was partially offset by payments for acquisition of property , plant and equipment of $ 8.3 billion , payments for acquisition of intangible assets of $ 1.1 billion and payments of dividends and dividend equivalent rights of $ 2.5 billion .", "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 .", "as of september 29 , 2012 and september 24 , 2011 , $ 82.6 billion and $ 54.3 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 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 , common stock repurchases , dividends on its common stock , and other liquidity requirements associated with its existing operations over the next 12 months .", "capital assets the company 2019s capital expenditures were $ 10.3 billion during 2012 , consisting of $ 865 million for retail store facilities and $ 9.5 billion for other capital expenditures , including product tooling and manufacturing process ." ]

[ "35% ( 35 % ) due primarily to certain undistributed foreign earnings for which no u.s .", "taxes are provided because such earnings are intended to be indefinitely reinvested outside the u.s .", "as of september 29 , 2012 , the company had deferred tax assets arising from deductible temporary differences , tax losses , and tax credits of $ 4.0 billion , and deferred tax liabilities of $ 14.9 billion .", "management believes it is more likely than not that forecasted income , including income that may be generated as a result of certain tax planning strategies , together with future reversals of existing taxable temporary differences , will be sufficient to fully recover the deferred tax assets .", "the company will continue to evaluate the realizability of deferred tax assets quarterly by assessing the need for and amount of a valuation allowance .", "the internal revenue service ( the 201cirs 201d ) has completed its field audit of the company 2019s federal income tax returns for the years 2004 through 2006 and proposed certain adjustments .", "the company has contested certain of these adjustments through the irs appeals office .", "the irs is currently examining the years 2007 through 2009 .", "all irs audit issues for years prior to 2004 have been resolved .", "in addition , the company is 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 .", "if any issues addressed in the company 2019s tax audits are resolved in a manner not consistent with management 2019s expectations , the company could be required to adjust its provision for income taxes in the period such resolution occurs .", "liquidity and capital resources the following table presents selected financial information and statistics as of and for the years ended september 29 , 2012 , september 24 , 2011 , and september 25 , 2010 ( in millions ) : ." ]

[ "as of september 29 , 2012 and september 24 , 2011 , $ 82.6 billion and $ 54.3 billion , respectively , of the company 2019s cash , cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in u.s ." ]

[ [ "", "2012", "2011", "2010" ], [ "cash cash equivalents and marketable securities", "$ 121251", "$ 81570", "$ 51011" ], [ "accounts receivable net", "$ 10930", "$ 5369", "$ 5510" ], [ "inventories", "$ 791", "$ 776", "$ 1051" ], [ "working capital", "$ 19111", "$ 17018", "$ 20956" ], [ "annual operating cash flow", "$ 50856", "$ 37529", "$ 18595" ] ]

[ "the company anticipates that it is reasonably possible that payments of approximately $ 2 million will be made primarily due to the conclusion of state income tax examinations within the next 12 months .", "additionally , certain state and foreign income tax returns will no longer be subject to examination and as a result , there is a reasonable possibility that the amount of unrecognized tax benefits will decrease by $ 7 million .", "at december 31 , 2007 , there were $ 42 million of tax benefits that if recognized would affect the effective rate .", "the company recognizes interest accrued related to : ( 1 ) unrecognized tax benefits in interest expense and ( 2 ) tax refund claims in other revenues on the consolidated statements of income .", "the company recognizes penalties in income tax expense ( benefit ) on the consolidated statements of income .", "during 2007 , the company recorded charges of approximately $ 4 million for interest expense and $ 2 million for penalties .", "provision has been made for the expected u.s .", "federal income tax liabilities applicable to undistributed earnings of subsidiaries , except for certain subsidiaries for which the company intends to invest the undistributed earnings indefinitely , or recover such undistributed earnings tax-free .", "at december 31 , 2007 , the company has not provided deferred taxes of $ 126 million , if sold through a taxable sale , on $ 361 million of undistributed earnings related to a domestic affiliate .", "the determination of the amount of the unrecognized deferred tax liability related to the undistributed earnings of foreign subsidiaries is not practicable .", "in connection with a non-recurring distribution of $ 850 million to diamond offshore from a foreign subsidiary , a portion of which consisted of earnings of the subsidiary that had not previously been subjected to u.s .", "federal income tax , diamond offshore recognized $ 59 million of u.s .", "federal income tax expense as a result of the distribution .", "it remains diamond offshore 2019s intention to indefinitely reinvest future earnings of the subsidiary to finance foreign activities .", "total income tax expense for the years ended december 31 , 2007 , 2006 and 2005 , was different than the amounts of $ 1601 million , $ 1557 million and $ 639 million , computed by applying the statutory u.s .", "federal income tax rate of 35% ( 35 % ) to income before income taxes and minority interest for each of the years. ." ]

[ "notes to consolidated financial statements note 11 .", "income taxes 2013 ( continued ) the federal income tax return for 2006 is subject to examination by the irs .", "in addition for 2007 and 2008 , the irs has invited the company to participate in the compliance assurance process ( 201ccap 201d ) , which is a voluntary program for a limited number of large corporations .", "under cap , the irs conducts a real-time audit and works contemporaneously with the company to resolve any issues prior to the filing of the tax return .", "the company has agreed to participate .", "the company believes this approach should reduce tax-related uncertainties , if any .", "the company and/or its subsidiaries also file income tax returns in various state , local and foreign jurisdictions .", "these returns , with few exceptions , are no longer subject to examination by the various taxing authorities before as discussed in note 1 , the company adopted the provisions of fin no .", "48 , 201caccounting for uncertainty in income taxes , 201d on january 1 , 2007 .", "as a result of the implementation of fin no .", "48 , the company recognized a decrease to beginning retained earnings on january 1 , 2007 of $ 37 million .", "the total amount of unrecognized tax benefits as of the date of adoption was approximately $ 70 million .", "included in the balance at january 1 , 2007 , were $ 51 million of tax positions that if recognized would affect the effective tax rate .", "a reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows : ( in millions ) ." ]

[ "balance january 1 2007 the balance december 31 2007 of $ 70 is $ 53 ;", "balance january 1 2007 the balance january 1 2007 of $ 70 is $ 70 ;" ]

[ [ "balance january 1 2007", "$ 70" ], [ "additions based on tax positions related to the current year", "12" ], [ "additions for tax positions of prior years", "3" ], [ "reductions for tax positions related to the current year", "-23 ( 23 )" ], [ "settlements", "-6 ( 6 )" ], [ "expiration of statute of limitations", "-3 ( 3 )" ], [ "balance december 31 2007", "$ 53" ] ]

[ "changes in net interest income and margin result from the interaction of the volume and composition of interest-earning assets and related yields , interest-bearing liabilities and related rates paid , and noninterest-bearing sources of funding .", "see the statistical information ( unaudited ) 2013 analysis of year-to-year changes in net interest income and average consolidated balance sheet and net interest analysis in item 8 and the discussion of purchase accounting accretion in the consolidated balance sheet review in item 7 of this report for additional information .", "the decreases in net interest income and net interest margin for 2011 compared with 2010 were primarily attributable to a decrease in purchase accounting accretion on purchased impaired loans primarily due to lower excess cash recoveries .", "a decline in average loan balances and the low interest rate environment , partially offset by lower funding costs , also contributed to the decrease .", "the pnc financial services group , inc .", "2013 form 10-k 35 ." ]

[ "corporate & institutional banking corporate & institutional banking earned $ 1.9 billion in 2011 and $ 1.8 billion in 2010 .", "the increase in earnings was primarily due to an improvement in the provision for credit losses , which was a benefit in 2011 , partially offset by a reduction in the value of commercial mortgage servicing rights and lower net interest income .", "we continued to focus on adding new clients , increasing cross sales , and remaining committed to strong expense discipline .", "asset management group asset management group earned $ 141 million for 2011 compared with $ 137 million for 2010 .", "assets under administration were $ 210 billion at december 31 , 2011 and $ 212 billion at december 31 , 2010 .", "earnings for 2011 reflected a benefit from the provision for credit losses and growth in noninterest income , partially offset by higher noninterest expense and lower net interest income .", "for 2011 , the business delivered strong sales production , grew high value clients and benefitted from significant referrals from other pnc lines of business .", "over time and with stabilized market conditions , the successful execution of these strategies and the accumulation of our strong sales performance are expected to create meaningful growth in assets under management and noninterest income .", "residential mortgage banking residential mortgage banking earned $ 87 million in 2011 compared with $ 269 million in 2010 .", "the decline in earnings was driven by an increase in noninterest expense associated with increased costs for residential mortgage foreclosure- related expenses , primarily as a result of ongoing governmental matters , and lower net interest income , partially offset by an increase in loan originations and higher loans sales revenue .", "blackrock our blackrock business segment earned $ 361 million in 2011 and $ 351 million in 2010 .", "the higher business segment earnings from blackrock for 2011 compared with 2010 were primarily due to an increase in revenue .", "non-strategic assets portfolio this business segment ( formerly distressed assets portfolio ) consists primarily of acquired non-strategic assets that fall outside of our core business strategy .", "non-strategic assets portfolio had earnings of $ 200 million in 2011 compared with a loss of $ 57 million in 2010 .", "the increase was primarily attributable to a lower provision for credit losses partially offset by lower net interest income .", "201cother 201d reported earnings of $ 376 million for 2011 compared with earnings of $ 386 million for 2010 .", "the decrease in earnings primarily reflected the noncash charge related to the redemption of trust preferred securities in the fourth quarter of 2011 and the gain related to the sale of a portion of pnc 2019s blackrock shares in 2010 partially offset by lower integration costs in 2011 .", "consolidated income statement review our consolidated income statement is presented in item 8 of this report .", "net income for 2011 was $ 3.1 billion compared with $ 3.4 billion for 2010 .", "results for 2011 include the impact of $ 324 million of residential mortgage foreclosure-related expenses primarily as a result of ongoing governmental matters , a $ 198 million noncash charge related to redemption of trust preferred securities and $ 42 million for integration costs .", "results for 2010 included the $ 328 million after-tax gain on our sale of gis , $ 387 million for integration costs , and $ 71 million of residential mortgage foreclosure-related expenses .", "for 2010 , net income attributable to common shareholders was also impacted by a noncash reduction of $ 250 million in connection with the redemption of tarp preferred stock .", "pnc 2019s results for 2011 were driven by good performance in a challenging environment of low interest rates , slow economic growth and new regulations .", "net interest income and net interest margin year ended december 31 dollars in millions 2011 2010 ." ]

[ "blackrock our blackrock business segment earned $ 361 million in 2011 and $ 351 million in 2010 ." ]

[ [ "year ended december 31dollars in millions", "2011", "2010" ], [ "net interest income", "$ 8700", "$ 9230" ], [ "net interest margin", "3.92% ( 3.92 % )", "4.14% ( 4.14 % )" ] ]

[ "through standardization of core functions , we believe we can minimize variability in our maintenance processes resulting in higher vehicle quality while extending the service life of our fleet .", "we believe operating a more reliable , safer and efficient fleet will lower our operating costs .", "we have implemented standardized maintenance programs for approximately 60% ( 60 % ) of our fleet maintenance operations as of december 31 , 2014 .", "cash utilization strategy key components of our cash utilization strategy include increasing free cash flow and improving our return on invested capital .", "our definition of free cash flow , which is not a measure determined in accordance with united states generally accepted accounting principles ( u.s .", "gaap ) , is cash provided by operating activities less purchases of property and equipment , plus proceeds from sales of property and equipment as presented in our consolidated statements of cash flows .", "for a discussion and reconciliation of free cash flow , you should read the 201cfree cash flow 201d section of our management 2019s discussion and analysis of financial condition and results of operations contained in item 7 of this form 10-k .", "we believe free cash flow drives shareholder value and provides useful information regarding the recurring cash provided by our operations .", "free cash flow also demonstrates our ability to execute our cash utilization strategy , which includes investments in acquisitions and returning a majority of free cash flow to our shareholders through dividends and share repurchases .", "we are committed to an efficient capital structure and maintaining our investment grade credit ratings .", "we manage our free cash flow by ensuring that capital expenditures and operating asset levels are appropriate in light of our existing business and growth opportunities , and by closely managing our working capital , which consists primarily of accounts receivable , accounts payable , and accrued landfill and environmental costs .", "dividends in july 2003 , our board of directors initiated a quarterly cash dividend of $ 0.04 per share .", "our quarterly dividend has increased from time to time thereafter , the latest increase occurring in july 2014 to $ 0.28 per share , representing a 7.7% ( 7.7 % ) increase over that of the prior year .", "over the last 5 years , our dividend has increased at a compounded annual growth rate of 8.1% ( 8.1 % ) .", "we expect to continue paying quarterly cash dividends and may consider additional dividend increases if we believe they will enhance shareholder value .", "share repurchases in october 2013 , our board of directors added $ 650 million to the existing share repurchase authorization originally approved in november 2010 .", "from november 2010 to december 31 , 2014 , we used $ 1439.5 million to repurchase 46.6 million shares of our common stock at a weighted average cost per share of $ 30.88 .", "as of december 31 , 2014 , there were $ 360.2 million remaining under our share repurchase authorization .", "during 2015 , we expect to use our remaining authorization to repurchase more of our outstanding common stock. ." ]

[ "standardized maintenance based on an industry trade publication , we operate the eighth largest vocational fleet in the united states .", "as of december 31 , 2014 , our average fleet age in years , by line of business , was as follows : approximate number of vehicles approximate average age ." ]

[ "the residential of approximate number of vehicles is 7600 ; the residential of approximate average age is 7 ;", "the total of approximate number of vehicles is 15800 ; the total of approximate average age is 7.5 ;" ]

[ [ "", "approximate number of vehicles", "approximate average age" ], [ "residential", "7600", "7" ], [ "commercial", "4300", "7" ], [ "industrial", "3900", "9" ], [ "total", "15800", "7.5" ] ]

[ "." ]

[ "item 7a quantitative and qualitative disclosures about market risk we are exposed to market risk stemming from changes in interest rates , foreign exchange rates , commodity prices and equity prices .", "changes in these factors could cause fluctuations in our earnings and cash flows .", "in the normal course of business , we actively manage our exposure to these market risks by entering into various hedging trans- actions , authorized under our policies that place clear controls on these activities .", "the counterparties in these transactions are generally highly rated institutions .", "we establish credit limits for each counterparty .", "our hedging transactions include but are not limited to a variety of deriv- ative financial instruments .", "interest rates we manage our debt structure and our interest rate risk through the use of fixed- and floating-rate debt and derivatives .", "we use interest rate swaps and forward-starting interest rate swaps to hedge our exposure to interest rate changes and to reduce volatility of our financing costs .", "generally under these swaps , we agree with a counterparty to exchange the difference between fixed- rate and floating-rate interest amounts based on an agreed notional principal amount .", "our primary exposure is to u.s .", "interest rates .", "as of may 28 , 2006 , we had $ 7.0 billion of aggregate notional principal amount ( the principal amount on which the fixed or floating interest rate is calculated ) outstanding .", "this includes notional amounts of offsetting swaps that neutralize our exposure to interest rates on other interest rate swaps .", "see note six to the consolidated finan- cial statements on pages 40 through 42 in item eight of this report .", "foreign currency rates foreign currency fluctuations can affect our net investments and earnings denominated in foreign currencies .", "we primarily use foreign currency forward contracts and option contracts to selectively hedge our cash flow exposure to changes in exchange rates .", "these contracts function as hedges , since they change in value inversely to the change created in the underlying exposure as foreign exchange rates fluctuate .", "our primary u.s .", "dollar exchange rate exposures are with the canadian dollar , the euro , the australian dollar , the mexican peso and the british pound .", "commodities many commodities we use in the produc- tion and distribution of our products are exposed to market price risks .", "we manage this market risk through an inte- grated set of financial instruments , including purchase orders , noncancelable contracts , futures contracts , options and swaps .", "our primary commodity price exposures are to cereal grains , sugar , dairy products , vegetables , fruits , meats , vegetable oils , and other agricultural products , as well as paper and plastic packaging materials , operating supplies and energy .", "equity instruments equity price movements affect our compensation expense as certain investments owned by our employees are revalued .", "we use equity swaps to manage this market risk .", "value at risk these estimates are intended to measure the maximum potential fair value we could lose in one day from adverse changes in market interest rates , foreign exchange rates , commodity prices , or equity prices under normal market conditions .", "a monte carlo ( var ) method- ology was used to quantify the market risk for our exposures .", "the models assumed normal market conditions and used a 95 percent confidence level .", "the var calculation used historical interest rates , foreign exchange rates and commodity and equity prices from the past year to estimate the potential volatility and correlation of these rates in the future .", "the market data were drawn from the riskmetricstm data set .", "the calculations are not intended to represent actual losses in fair value that we expect to incur .", "further , since the hedging instrument ( the derivative ) inversely correlates with the underlying expo- sure , we would expect that any loss or gain in the fair value of our derivatives would be generally offset by an increase or decrease in the fair value of the underlying exposures .", "the positions included in the calculations were : debt ; invest- ments ; interest rate swaps ; foreign exchange forwards ; commodity swaps , futures and options ; and equity instru- ments .", "the calculations do not include the underlying foreign exchange and commodities-related positions that are hedged by these market-risk-sensitive instruments .", "the table below presents the estimated maximum poten- tial one-day loss in fair value for our interest rate , foreign currency , commodity and equity market-risk-sensitive instruments outstanding on may 28 , 2006 and may 29 , 2005 , and the average amount outstanding during the year ended may 28 , 2006 .", "the amounts were calculated using the var methodology described above. ." ]

[ "in millions the interest rate instruments of fair value impact may 282006 is $ 8 ; the interest rate instruments of fair value impact averageduring2006 is $ 10 ; the interest rate instruments of fair value impact may 292005 is $ 18 ;", "in millions the foreign currency instruments of fair value impact may 282006 is 2 ; the foreign currency instruments of fair value impact averageduring2006 is 1 ; the foreign currency instruments of fair value impact may 292005 is 1 ;", "in millions the commodity instruments of fair value impact may 282006 is 2 ; the commodity instruments of fair value impact averageduring2006 is 2 ; the commodity instruments of fair value impact may 292005 is 1 ;", "in millions the equity instruments of fair value impact may 282006 is 1 ; the equity instruments of fair value impact averageduring2006 is 1 ; the equity instruments of fair value impact may 292005 is 2013 ;" ]

[ [ "in millions", "fair value impact may 282006", "fair value impact averageduring2006", "fair value impact may 292005" ], [ "interest rate instruments", "$ 8", "$ 10", "$ 18" ], [ "foreign currency instruments", "2", "1", "1" ], [ "commodity instruments", "2", "2", "1" ], [ "equity instruments", "1", "1", "2013" ] ]

[ "." ]

[ "shareowner return performance graph the following performance graph and related information shall not be deemed 201csoliciting material 201d or to be 201cfiled 201d with the sec , nor shall such information be incorporated by reference into any future filing under the securities act of 1933 or securities exchange act of 1934 , each as amended , except to the extent that the company specifically incorporates such information by reference into such filing .", "the following graph shows a five year comparison of cumulative total shareowners 2019 returns for our class b common stock , the standard & poor 2019s 500 index , and the dow jones transportation average .", "the comparison of the total cumulative return on investment , which is the change in the quarterly stock price plus reinvested dividends for each of the quarterly periods , assumes that $ 100 was invested on december 31 , 2009 in the standard & poor 2019s 500 index , the dow jones transportation average , and our class b common stock. ." ]

[ "the united parcel service inc . of 12/31/2009 is $ 100.00 ; the united parcel service inc . of 12/31/2010 is $ 130.29 ; the united parcel service inc . of 12/31/2011 is $ 135.35 ; the united parcel service inc . of 12/31/2012 is $ 140.54 ; the united parcel service inc . of 12/31/2013 is $ 205.95 ; the united parcel service inc . of 12/31/2014 is $ 223.79 ;", "the standard & poor 2019s 500 index of 12/31/2009 is $ 100.00 ; the standard & poor 2019s 500 index of 12/31/2010 is $ 115.06 ; the standard & poor 2019s 500 index of 12/31/2011 is $ 117.48 ; the standard & poor 2019s 500 index of 12/31/2012 is $ 136.26 ; the standard & poor 2019s 500 index of 12/31/2013 is $ 180.38 ; the standard & poor 2019s 500 index of 12/31/2014 is $ 205.05 ;" ]

[ [ "", "12/31/2009", "12/31/2010", "12/31/2011", "12/31/2012", "12/31/2013", "12/31/2014" ], [ "united parcel service inc .", "$ 100.00", "$ 130.29", "$ 135.35", "$ 140.54", "$ 205.95", "$ 223.79" ], [ "standard & poor 2019s 500 index", "$ 100.00", "$ 115.06", "$ 117.48", "$ 136.26", "$ 180.38", "$ 205.05" ], [ "dow jones transportation average", "$ 100.00", "$ 126.74", "$ 126.75", "$ 136.24", "$ 192.61", "$ 240.91" ] ]

[ "." ]

[ "korea engineering plastics co. , ltd .", "founded in 1987 , kepco is the leading producer of pom in south korea .", "kepco is a venture between celanese's ticona business ( 50% ( 50 % ) ) , mitsubishi gas chemical company , inc .", "( 40% ( 40 % ) ) and mitsubishi corporation ( 10% ( 10 % ) ) .", "kepco has polyacetal production facilities in ulsan , south korea , compounding facilities for pbt and nylon in pyongtaek , south korea , and participates with polyplastics and mitsubishi gas chemical company , inc .", "in a world-scale pom facility in nantong , china .", "polyplastics co. , ltd .", "polyplastics is a leading supplier of engineered plastics in the asia-pacific region and is a venture between daicel chemical industries ltd. , japan ( 55% ( 55 % ) ) , and celanese's ticona business ( 45% ( 45 % ) ) .", "established in 1964 , polyplastics is a producer and marketer of pom and lcp in the asia-pacific region , with principal production facilities located in japan , taiwan , malaysia and china .", "fortron industries llc .", "fortron is a leading global producer of polyphenylene sulfide ( 201cpps 201d ) , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .", "established in 1992 , fortron is a limited liability company whose members are ticona fortron inc .", "( 50% ( 50 % ) ownership and a wholly-owned subsidiary of cna holdings , llc ) and kureha corporation ( 50% ( 50 % ) ownership and a wholly-owned subsidiary of kureha chemical industry co. , ltd .", "of japan ) .", "fortron's facility is located in wilmington , north carolina .", "this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha .", "china acetate strategic ventures .", "we hold an approximate 30% ( 30 % ) ownership interest in three separate acetate production ventures in china .", "these include the nantong cellulose fibers co .", "ltd. , kunming cellulose fibers co .", "ltd .", "and zhuhai cellulose fibers co .", "ltd .", "the china national tobacco corporation , the chinese state-owned tobacco entity , controls the remaining ownership interest in each of these ventures .", "with an estimated 30% ( 30 % ) share of the world's cigarette production and consumption , china is the world's largest and fastest growing area for acetate tow products according to the 2009 stanford research institute international chemical economics handbook .", "combined , these ventures are a leader in chinese domestic acetate production and are well positioned to supply chinese cigarette producers .", "in december 2009 , we announced plans with china national tobacco to expand our acetate flake and tow capacity at our venture's nantong facility and we received formal approval for the expansions , each by 30000 tons , during 2010 .", "since their inception in 1986 , the china acetate ventures have completed 12 expansions , leading to earnings growth and increased dividends .", "our chinese acetate ventures fund their operations using operating cash flow .", "during 2011 , we made contributions of $ 8 million related to the capacity expansions in nantong and have committed contributions of $ 9 million in 2012 .", "in 2010 , we made contributions of $ 12 million .", "our chinese acetate ventures pay a dividend in the second quarter of each fiscal year , based on the ventures' performance for the preceding year .", "in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively .", "although our ownership interest in each of our china acetate ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states ( 201cus gaap 201d ) .", "2022 other equity method investments infraservs .", "we hold indirect ownership interests in several infraserv groups in germany that own and develop industrial parks and provide on-site general and administrative support to tenants .", "the table below represents our equity investments in infraserv ventures as of december 31 , 2011: ." ]

[ "in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively ." ]

[ [ "", "ownership % ( % )" ], [ "infraserv gmbh & co . gendorf kg", "39" ], [ "infraserv gmbh & co . knapsack kg", "27" ], [ "infraserv gmbh & co . hoechst kg", "32" ] ]

[ "net debt consists of debt less cash and cash equivalents .", "debt consists of notes payable , capital lease obligations , preferred stock with sinking fund , and long-term debt , including the currently maturing portion .", "capital consists of debt , shareholders 2019 equity , and preferred stock without sinking fund .", "net capital consists of capital less cash and cash equivalents .", "entergy uses the net debt to net capital ratio in analyzing its financial condition and believes it provides useful information to its investors and creditors in evaluating entergy 2019s financial condition .", "m an ag e ment 2019s f i n anc ial d i scuss ion an d an alys is co n t i n u e d ." ]

[ "e nt e r g y c o r p o r a t i o n a n d s u b s i d i a r i e s 2 0 0 7 n an increase of $ 16 million in fossil operating costs due to the purchase of the attala plant in january 2006 and the perryville plant coming online in july 2005 ; n an increase of $ 12 million related to storm reserves .", "this increase does not include costs associated with hurricanes katrina and rita ; and n an increase of $ 12 million due to a return to normal expense patterns in 2006 versus the deferral or capitalization of storm costs in 2005 .", "other operation and maintenance expenses increased for non- utility nuclear from $ 588 million in 2005 to $ 637 million in 2006 primarily due to the timing of refueling outages , increased benefit and insurance costs , and increased nrc fees .", "taxes other than income taxes taxes other than income taxes increased for the utility from $ 322 million in 2005 to $ 361 million in 2006 primarily due to an increase in city franchise taxes in arkansas due to a change in 2006 in the accounting for city franchise tax revenues as directed by the apsc .", "the change results in an increase in taxes other than income taxes with a corresponding increase in rider revenue , resulting in no effect on net income .", "also contributing to the increase was higher franchise tax expense at entergy gulf states , inc .", "as a result of higher gross revenues in 2006 and a customer refund in 2005 .", "other income other income increased for the utility from $ 111 million in 2005 to $ 156 million in 2006 primarily due to carrying charges recorded on storm restoration costs .", "other income increased for non-utility nuclear primarily due to miscellaneous income of $ 27 million ( $ 16.6 million net-of-tax ) resulting from a reduction in the decommissioning liability for a plant as a result of a revised decommissioning cost study and changes in assumptions regarding the timing of when decommissioning of a plant will begin .", "other income increased for parent & other primarily due to a gain related to its entergy-koch investment of approximately $ 55 million ( net-of-tax ) in the fourth quarter of 2006 .", "in 2004 , entergy-koch sold its energy trading and pipeline businesses to third parties .", "at that time , entergy received $ 862 million of the sales proceeds in the form of a cash distribution by entergy-koch .", "due to the november 2006 expiration of contingencies on the sale of entergy-koch 2019s trading business , and the corresponding release to entergy-koch of sales proceeds held in escrow , entergy received additional cash distributions of approximately $ 163 million during the fourth quarter of 2006 and recorded a gain of approximately $ 55 million ( net-of-tax ) .", "entergy expects future cash distributions upon liquidation of the partnership will be less than $ 35 million .", "interest charges interest charges increased for the utility and parent & other primarily due to additional borrowing to fund the significant storm restoration costs associated with hurricanes katrina and rita .", "discontinued operations in april 2006 , entergy sold the retail electric portion of the competitive retail services business operating in the electric reliability council of texas ( ercot ) region of texas , and now reports this portion of the business as a discontinued operation .", "earnings for 2005 were negatively affected by $ 44.8 million ( net-of-tax ) of discontinued operations due to the planned sale .", "this amount includes a net charge of $ 25.8 million ( net-of-tax ) related to the impairment reserve for the remaining net book value of the competitive retail services business 2019 information technology systems .", "results for 2006 include an $ 11.1 million gain ( net-of-tax ) on the sale of the retail electric portion of the competitive retail services business operating in the ercot region of texas .", "income taxes the effective income tax rates for 2006 and 2005 were 27.6% ( 27.6 % ) and 36.6% ( 36.6 % ) , respectively .", "the lower effective income tax rate in 2006 is primarily due to tax benefits , net of reserves , resulting from the tax capital loss recognized in connection with the liquidation of entergy power international holdings , entergy 2019s holding company for entergy-koch .", "also contributing to the lower rate for 2006 is an irs audit settlement that allowed entergy to release from its tax reserves all settled issues relating to 1996-1998 audit cycle .", "see note 3 to the financial statements for a reconciliation of the federal statutory rate of 35.0% ( 35.0 % ) to the effective income tax rates , and for additional discussion regarding income taxes .", "liquidity and capital resources this section discusses entergy 2019s capital structure , capital spending plans and other uses of capital , sources of capital , and the cash flow activity presented in the cash flow statement .", "capital structure entergy 2019s capitalization is balanced between equity and debt , as shown in the following table .", "the increase in the debt to capital percentage from 2006 to 2007 is primarily the result of additional borrowings under entergy corporation 2019s revolving credit facility , along with a decrease in shareholders 2019 equity primarily due to repurchases of common stock .", "this increase in the debt to capital percentage is in line with entergy 2019s financial and risk management aspirations .", "the decrease in the debt to capital percentage from 2005 to 2006 is the result of an increase in shareholders 2019 equity , primarily due to an increase in retained earnings , partially offset by repurchases of common stock. ." ]

[ "other income other income increased for the utility from $ 111 million in 2005 to $ 156 million in 2006 primarily due to carrying charges recorded on storm restoration costs ." ]

[ [ "", "2007", "2006", "2005" ], [ "net debt to net capital at the end of the year", "54.6% ( 54.6 % )", "49.4% ( 49.4 % )", "51.5% ( 51.5 % )" ], [ "effect of subtracting cash from debt", "3.0% ( 3.0 % )", "2.9% ( 2.9 % )", "1.6% ( 1.6 % )" ], [ "debt to capital at the end of the year", "57.6% ( 57.6 % )", "52.3% ( 52.3 % )", "53.1% ( 53.1 % )" ] ]

[ "residential mortgage loan and home equity loan/ line of credit 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 .", "repurchase obligation activity associated with residential mortgages is reported in the residential mortgage banking segment .", "in the fourth quarter of 2013 , pnc reached agreements with both fnma and fhlmc to resolve their repurchase claims with respect to loans sold between 2000 and 2008 .", "pnc paid a total of $ 191 million related to these settlements .", "pnc 2019s repurchase obligations also include certain brokered home equity loans/lines of credit that were sold to a limited number of private investors in the financial services industry by national city prior to our acquisition of national city .", "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 loans sold in these transactions .", "repurchase activity associated with brokered home equity loans/lines of credit is reported in the non-strategic assets portfolio segment .", "214 the pnc financial services group , inc .", "2013 form 10-k ." ]

[ "visa indemnification our payment services business issues and acquires credit and debit card transactions through visa u.s.a .", "inc .", "card association or its affiliates ( visa ) .", "in october 2007 , visa completed a restructuring and issued shares of visa inc .", "common stock to its financial institution members ( visa reorganization ) in contemplation of its initial public offering ( ipo ) .", "as part of the visa reorganization , we received our proportionate share of class b visa inc .", "common stock allocated to the u.s .", "members .", "prior to the ipo , the u.s .", "members , which included pnc , were obligated to indemnify visa for judgments and settlements related to certain specified litigation .", "as a result of the acquisition of national city , we became party to judgment and loss sharing agreements with visa and certain other banks .", "the judgment and loss sharing agreements were designed to apportion financial responsibilities arising from any potential adverse judgment or negotiated settlements related to the specified litigation .", "in september 2014 , visa funded $ 450 million into its litigation escrow account and reduced the conversion rate of visa b to a shares .", "we continue to have an obligation to indemnify visa for judgments and settlements for the remaining specified litigation .", "recourse and repurchase obligations as discussed in note 2 loan sale and servicing activities and variable interest entities , pnc has sold commercial mortgage , residential mortgage and home equity loans/ lines of credit directly or indirectly through securitization and loan sale transactions in which we have continuing involvement .", "one form of continuing involvement includes certain recourse and loan repurchase obligations associated with the transferred assets .", "commercial mortgage loan recourse obligations we originate 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 , 2014 and december 31 , 2013 , the unpaid principal balance outstanding of loans sold as a participant in these programs was $ 12.3 billion and $ 11.7 billion , respectively .", "the potential maximum exposure under the loss share arrangements was $ 3.7 billion at december 31 , 2014 and $ 3.6 billion at december 31 , 2013 .", "we maintain a reserve for estimated losses based upon our exposure .", "the reserve for losses under these programs totaled $ 35 million and $ 33 million as of december 31 , 2014 and december 31 , 2013 , 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 .", "table 150 : analysis of commercial mortgage recourse obligations ." ]

[ "in millions the december 31 of 2014 is $ 35 ; the december 31 of 2013 is $ 33 ;" ]

[ [ "in millions", "2014", "2013" ], [ "january 1", "$ 33", "$ 43" ], [ "reserve adjustments net", "2", "-9 ( 9 )" ], [ "losses 2013 loan repurchases and settlements", "", "-1 ( 1 )" ], [ "december 31", "$ 35", "$ 33" ] ]

[ "( a ) forfeited awards during 2016 were insignificant .", "( b ) includes adjustments for achieving specific performance goals for incentive/ performance unit share awards granted in prior periods .", "in table 78 , the units and related weighted-average grant date fair value of the incentive/performance unit share awards exclude the effect of dividends on the underlying shares , as those dividends will be paid in cash if and when the underlying shares are issued to the participants .", "blackrock long-term incentive plans ( ltip ) blackrock adopted the 2002 ltip program to help attract and retain qualified professionals .", "at that time , we agreed to transfer up to four million shares of blackrock common stock to fund a portion of the 2002 ltip program and future ltip programs approved by blackrock 2019s board of directors .", "in 2009 , our obligation to deliver any remaining blackrock common shares was replaced with an obligation to deliver shares of blackrock 2019s series c preferred stock held by us .", "in 2016 , we transferred .5 million shares of blackrock series c preferred stock to blackrock in connection with our obligation .", "at december 31 , 2016 , we held approximately .8 million shares of blackrock series c preferred stock which were available to fund our obligations .", "see note 23 subsequent events for information on our february 1 , 2017 transfer of .5 million shares of the series c preferred stock to blackrock to satisfy a portion of our ltip obligation .", "we account for our blackrock series c preferred stock at fair value , which offsets the impact of marking-to-market the obligation to deliver these shares to blackrock .", "see note 6 fair value for additional information regarding the valuation of the blackrock series c preferred stock .", "the pnc financial services group , inc .", "2013 form 10-k 139 ." ]

[ "at december 31 , 2015 and 2014 , options for 5 million and 6 million shares of common stock were exercisable at a weighted-average price of $ 55.42 and $ 56.21 , respectively .", "the total intrinsic value of options exercised was approximately $ .1 billion during 2016 , 2015 and 2014 .", "cash received from option exercises under all incentive plans for 2016 , 2015 and 2014 was approximately $ .1 billion , $ .1 billion and $ .2 billion , respectively .", "the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .", "shares of common stock available during the next year for the granting of options and other awards under the incentive plans were approximately 39 million shares at december 31 , 2016 .", "total shares of pnc common stock authorized for future issuance under all equity compensation plans totaled approximately 40 million shares at december 31 , 2016 .", "during 2016 , we issued approximately 2 million common shares from treasury stock in connection with stock option exercise activity .", "as with past exercise activity , we currently intend to utilize primarily treasury stock for any future stock option exercises .", "incentive/performance unit awards and restricted share/restricted share unit awards the fair value of nonvested incentive/performance unit awards and restricted share/restricted share unit awards is initially determined based on prices not less than the market value of our common stock on the date of grant with a reduction for estimated forfeitures .", "the value of certain incentive/ performance unit awards is subsequently remeasured based on the achievement of one or more financial and other performance goals .", "additionally , certain incentive/ performance unit awards require subsequent adjustment to their current market value due to certain discretionary risk review triggers .", "the weighted-average grant date fair value of incentive/ performance unit awards and restricted share/restricted share unit awards granted in 2016 , 2015 and 2014 was $ 78.37 , $ 91.57 and $ 80.79 per share , respectively .", "the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively .", "we recognize compensation expense for such awards ratably over the corresponding vesting and/or performance periods for each type of program .", "table 78 : nonvested incentive/performance unit awards and restricted share/restricted share unit awards 2013 rollforward ( a ) shares in millions nonvested incentive/ performance units shares weighted- average date fair nonvested restricted share/ restricted weighted- average grant date fair value ." ]

[ "the tax benefit realized from option exercises under all incentive plans was insignificant for 2016 , 2015 and 2014 .", "the total intrinsic value of incentive/performance unit and restricted share/ restricted share unit awards vested during 2016 , 2015 and 2014 was approximately $ .1 billion , $ .2 billion and $ .1 billion , respectively ." ]

[ [ "shares in millions december 31 2015", "nonvested incentive/ performance units shares 2", "weighted- average grant date fair value $ 79.27", "nonvested restricted share/ restricted share units 3", "weighted- average grant date fair value $ 79.26" ], [ "granted ( b )", "1", "$ 77.77", "1", "$ 78.71" ], [ "vested/released ( b )", "-1 ( 1 )", "$ 71.59", "-1 ( 1 )", "$ 65.53" ], [ "december 31 2016", "2", "$ 81.42", "3", "$ 83.27" ] ]

[ "." ]

[ "morgan stanley notes to consolidated financial statements 2014 ( continued ) senior debt securities often are denominated in various non-u.s .", "dollar currencies and may be structured to provide a return that is equity-linked , credit-linked , commodity-linked or linked to some other index ( e.g. , the consumer price index ) .", "senior debt also may be structured to be callable by the company or extendible at the option of holders of the senior debt securities .", "debt containing provisions that effectively allow the holders to put or extend the notes aggregated $ 2902 million at december 31 , 2015 and $ 2175 million at december 31 , 2014 .", "in addition , in certain circumstances , certain purchasers may be entitled to cause the repurchase of the notes .", "the aggregated value of notes subject to these arrangements was $ 650 million at december 31 , 2015 and $ 551 million at december 31 , 2014 .", "subordinated debt and junior subordinated debentures generally are issued to meet the capital requirements of the company or its regulated subsidiaries and primarily are u.s .", "dollar denominated .", "during 2015 , morgan stanley capital trusts vi and vii redeemed all of their issued and outstanding 6.60% ( 6.60 % ) capital securities , respectively , and the company concurrently redeemed the related underlying junior subordinated debentures .", "senior debt 2014structured borrowings .", "the company 2019s index-linked , equity-linked or credit-linked borrowings include various structured instruments whose payments and redemption values are linked to the performance of a specific index ( e.g. , standard & poor 2019s 500 ) , a basket of stocks , a specific equity security , a credit exposure or basket of credit exposures .", "to minimize the exposure resulting from movements in the underlying index , equity , credit or other position , the company has entered into various swap contracts and purchased options that effectively convert the borrowing costs into floating rates based upon libor .", "the company generally carries the entire structured borrowings at fair value .", "the swaps and purchased options used to economically hedge the embedded features are derivatives and also are carried at fair value .", "changes in fair value related to the notes and economic hedges are reported in trading revenues .", "see note 3 for further information on structured borrowings .", "subordinated debt and junior subordinated debentures .", "included in the long-term borrowings are subordinated notes of $ 10404 million having a contractual weighted average coupon of 4.45% ( 4.45 % ) at december 31 , 2015 and $ 8339 million having a contractual weighted average coupon of 4.57% ( 4.57 % ) at december 31 , 2014 .", "junior subordinated debentures outstanding by the company were $ 2870 million at december 31 , 2015 having a contractual weighted average coupon of 6.22% ( 6.22 % ) at december 31 , 2015 and $ 4868 million at december 31 , 2014 having a contractual weighted average coupon of 6.37% ( 6.37 % ) at december 31 , 2014 .", "maturities of the subordinated and junior subordinated notes range from 2022 to 2067 , while maturities of certain junior subordinated debentures can be extended to 2052 at the company 2019s option .", "asset and liability management .", "in general , securities inventories that are not financed by secured funding sources and the majority of the company 2019s assets are financed with a combination of deposits , short-term funding , floating rate long-term debt or fixed rate long-term debt swapped to a floating rate .", "fixed assets are generally financed with fixed rate long-term debt .", "the company uses interest rate swaps to more closely match these borrowings to the duration , holding period and interest rate characteristics of the assets being funded and to manage interest rate risk .", "these swaps effectively convert certain of the company 2019s fixed rate borrowings into floating rate obligations .", "in addition , for non-u.s .", "dollar currency borrowings that are not used to fund assets in the same currency , the company has entered into currency swaps that effectively convert the borrowings into u.s .", "dollar obligations .", "the company 2019s use of swaps for asset and liability management affected its effective average borrowing rate .", "effective average borrowing rate. ." ]

[ "the weighted average coupon of long-term borrowings at period-end ( 1 ) of 2015 is 4.0% ( 4.0 % ) ; the weighted average coupon of long-term borrowings at period-end ( 1 ) of 2014 is 4.2% ( 4.2 % ) ; the weighted average coupon of long-term borrowings at period-end ( 1 ) of 2013 is 4.4% ( 4.4 % ) ;", "the effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ) of 2015 is 2.1% ( 2.1 % ) ; the effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ) of 2014 is 2.3% ( 2.3 % ) ; the effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ) of 2013 is 2.2% ( 2.2 % ) ;" ]

[ [ "", "2015", "2014", "2013" ], [ "weighted average coupon of long-term borrowings at period-end ( 1 )", "4.0% ( 4.0 % )", "4.2% ( 4.2 % )", "4.4% ( 4.4 % )" ], [ "effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 )", "2.1% ( 2.1 % )", "2.3% ( 2.3 % )", "2.2% ( 2.2 % )" ] ]

[ "." ]

[ "humana inc .", "notes to consolidated financial statements 2014 ( continued ) in any spe transactions .", "the adoption of fin 46 or fin 46-r did not have a material impact on our financial position , results of operations , or cash flows .", "in december 2004 , the fasb issued statement no .", "123r , share-based payment , or statement 123r , which requires companies to expense the fair value of employee stock options and other forms of stock-based compensation .", "this requirement represents a significant change because fixed-based stock option awards , a predominate form of stock compensation for us , were not recognized as compensation expense under apb 25 .", "statement 123r requires the cost of the award , as determined on the date of grant at fair value , be recognized over the period during which an employee is required to provide service in exchange for the award ( usually the vesting period ) .", "the grant-date fair value of the award will be estimated using option-pricing models .", "we are required to adopt statement 123r no later than july 1 , 2005 under one of three transition methods , including a prospective , retrospective and combination approach .", "we previously disclosed on page 67 the effect of expensing stock options under a fair value approach using the black-scholes pricing model for 2004 , 2003 and 2002 .", "we currently are evaluating all of the provisions of statement 123r and the expected effect on us including , among other items , reviewing compensation strategies related to stock-based awards , selecting an option pricing model and determining the transition method .", "in march 2004 , the fasb issued eitf issue no .", "03-1 , or eitf 03-1 , the meaning of other-than- temporary impairment and its application to certain investments .", "eitf 03-1 includes new guidance for evaluating and recording impairment losses on certain debt and equity investments when the fair value of the investment security is less than its carrying value .", "in september 2004 , the fasb delayed the previously scheduled third quarter 2004 effective date until the issuance of additional implementation guidance , expected in 2005 .", "upon issuance of a final standard , we will evaluate the impact on our consolidated financial position and results of operations .", "3 .", "acquisitions on february 16 , 2005 , we acquired careplus health plans of florida , or careplus , as well as its affiliated 10 medical centers and pharmacy company .", "careplus provides medicare advantage hmo plans and benefits to medicare eligible members in miami-dade , broward and palm beach counties .", "this acquisition enhances our medicare market position in south florida .", "we paid approximately $ 450 million in cash including estimated transaction costs , subject to a balance sheet settlement process with a nine month claims run-out period .", "we currently are in the process of allocating the purchase price to the net tangible and intangible assets .", "on april 1 , 2004 , we acquired ochsner health plan , or ochsner , from the ochsner clinic foundation .", "ochsner is a louisiana health benefits company offering network-based managed care plans to employer-groups and medicare eligible members .", "this acquisition enabled us to enter a new market with significant market share which should facilitate new sales opportunities in this and surrounding markets , including houston , texas .", "we paid $ 157.1 million in cash , including transaction costs .", "the fair value of the tangible assets ( liabilities ) as of the acquisition date are as follows: ." ]

[ "the cash and cash equivalents of ( in thousands ) is $ 15270 ;", "the investment securities of ( in thousands ) is 84527 ;", "the premiums receivable and other current assets of ( in thousands ) is 20616 ;", "the property and equipment and other assets of ( in thousands ) is 6847 ;" ]

[ [ "", "( in thousands )" ], [ "cash and cash equivalents", "$ 15270" ], [ "investment securities", "84527" ], [ "premiums receivable and other current assets", "20616" ], [ "property and equipment and other assets", "6847" ], [ "medical and other expenses payable", "-71063 ( 71063 )" ], [ "other current liabilities", "-21604 ( 21604 )" ], [ "other liabilities", "-82 ( 82 )" ], [ "net tangible assets acquired", "$ 34511" ] ]

[ "because many of these cases involve numerous plaintiffs , the company is subject to claims significantly in excess of the number of actual cases .", "the company has reserves for defense costs related to claims arising from these matters .", "award proceedings in relation to domination agreement and squeeze-out on october 1 , 2004 , celanese gmbh and the company 2019s subsidiary , bcp holdings gmbh ( 201cbcp holdings 201d ) , a german limited liability company , entered into a domination agreement pursuant to which the bcp holdings became obligated to offer to acquire all outstanding celanese gmbh shares from the minority shareholders of celanese gmbh in return for payment of fair cash compensation ( the 201cpurchaser offer 201d ) .", "the amount of this fair cash compensation was determined to be a41.92 per share in accordance with applicable german law .", "all minority shareholders who elected not to sell their shares to the bcp holdings under the purchaser offer were entitled to remain shareholders of celanese gmbh and to receive from the bcp holdings a gross guaranteed annual payment of a3.27 per celanese gmbh share less certain corporate taxes in lieu of any dividend .", "as of march 30 , 2005 , several minority shareholders of celanese gmbh had initiated special award proceedings seeking the court 2019s review of the amounts of the fair cash compensation and of the guaranteed annual payment offered in the purchaser offer under the domination agreement .", "in the purchaser offer , 145387 shares were tendered at the fair cash compensation of a41.92 , and 924078 shares initially remained outstanding and were entitled to the guaranteed annual payment under the domination agreement .", "as a result of these proceedings , the amount of the fair cash consideration and the guaranteed annual payment paid under the domination agreement could be increased by the court so that all minority shareholders , including those who have already tendered their shares in the purchaser offer for the fair cash compensation , could claim the respective higher amounts .", "on december 12 , 2006 , the court of first instance appointed an expert to assist the court in determining the value of celanese gmbh .", "on may 30 , 2006 the majority shareholder of celanese gmbh adopted a squeeze-out resolution under which all outstanding shares held by minority shareholders should be transferred to bcp holdings for a fair cash compensation of a66.99 per share ( the 201csqueeze-out 201d ) .", "this shareholder resolution was challenged by shareholders but the squeeze-out became effective after the disputes were settled on december 22 , 2006 .", "award proceedings were subsequently filed by 79 shareholders against bcp holdings with the frankfurt district court requesting the court to set a higher amount for the squeeze-out compensation .", "pursuant to a settlement agreement between bcp holdings and certain former celanese gmbh shareholders , if the court sets a higher value for the fair cash compensation or the guaranteed payment under the purchaser offer or the squeeze-out compensation , former celanese gmbh shareholders who ceased to be shareholders of celanese gmbh due to the squeeze-out will be entitled to claim for their shares the higher of the compensation amounts determined by the court in these different proceedings related to the purchaser offer and the squeeze-out .", "if the fair cash compensation determined by the court is higher than the squeeze-out compensation of a 66.99 , then 1069465 shares will be entitled to an adjustment .", "if the court confirms the value of the fair cash compensation under the domination agreement but determines a higher value for the squeeze-out compensation , 924078 shares %%transmsg*** transmitting job : d77691 pcn : 148000000 ***%%pcmsg|148 |00010|yes|no|02/08/2011 16:10|0|0|page is valid , no graphics -- color : n| ." ]

[ "asbestos claims the company and several of its us subsidiaries are defendants in asbestos cases .", "during the year ended december 31 , 2010 , asbestos case activity is as follows: ." ]

[ "the new cases filed of asbestos cases is 41 ;", "the as of december 31 2010 of asbestos cases is 499 ;" ]

[ [ "", "asbestos cases" ], [ "as of december 31 2009", "526" ], [ "case adjustments", "2" ], [ "new cases filed", "41" ], [ "resolved cases", "-70 ( 70 )" ], [ "as of december 31 2010", "499" ] ]

[ "weighted average useful life ( years ) software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .", "amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .", "to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .", "internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .", "such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .", "capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .", "table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) ." ]

[ "improvements are amortized using the straight-line method over the lesser of the remaining respective lease term or estimated useful lives ranging from 1 to 15 years .", "goodwill , purchased intangibles and other long-lived assets we review our goodwill for impairment annually , or more frequently , if facts and circumstances warrant a review .", "we completed our annual impairment test in the second quarter of fiscal 2011 and determined that there was no impairment .", "in the fourth quarter of fiscal 2011 , we announced changes to our business strategy which resulted in a reduction of forecasted revenue for certain of our products .", "we performed an update to our goodwill impairment test for the enterprise reporting unit and determined there was no impairment .", "goodwill is assigned to one or more reporting segments on the date of acquisition .", "we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .", "to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .", "our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .", "we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .", "we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .", "when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .", "if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .", "we did not recognize any intangible asset impairment charges in fiscal 2011 , 2010 or 2009 .", "our intangible assets are amortized over their estimated useful lives of 1 to 13 years .", "amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .", "the weighted average useful lives of our intangibles assets was as follows: ." ]

[ "the trademarks of weighted averageuseful life ( years ) is 7 ;" ]

[ [ "", "weighted averageuseful life ( years )" ], [ "purchased technology", "6" ], [ "customer contracts and relationships", "10" ], [ "trademarks", "7" ], [ "acquired rights to use technology", "9" ], [ "localization", "1" ], [ "other intangibles", "3" ] ]

[ "the preliminary purchase price allocation resulted in goodwill , included in the north america merchant services segment , of $ 271.6 million .", "such goodwill is attributable primarily to synergies with the services offered and markets served by paypros .", "the goodwill associated with the acquisition is not deductible for tax purposes .", "the customer-related intangible assets and the contract-based intangible assets have an estimated amortization period of 13 years .", "the acquired technology has an estimated amortization period of 7 years. ." ]

[ "cash and a commitment to fund the capital needs of the business until such time as its cumulative funding is equal to funding that we have provided from inception through the effective date of the transaction .", "the transaction created a new joint venture which does business as comercia global payments brazil .", "as a result of the transaction , we deconsolidated global payments brazil , and we apply the equity method of accounting to our retained interest in comercia global payments brazil .", "we recorded a gain on the transaction of $ 2.1 million which is included in interest and other income in the consolidated statement of income for the fiscal year ended may 31 , 2014 .", "the results of the brazil operation from inception until the restructuring into a joint venture on september 30 , 2013 were not material to our consolidated results of operations , and the assets and liabilities that we derecognized were not material to our consolidated balance sheet .", "american express portfolio on october 24 , 2013 , we acquired a merchant portfolio in the czech republic from american express limited for $ 1.9 million .", "the acquired assets have been classified as customer-related intangible assets and contract-based intangible assets with estimated amortization periods of 10 years .", "paypros on march 4 , 2014 , we completed the acquisition of 100% ( 100 % ) of the outstanding stock of payment processing , inc .", "( 201cpaypros 201d ) for $ 420.0 million in cash plus $ 7.7 million in cash for working capital , subject to adjustment based on a final determination of working capital .", "we funded the acquisition with a combination of cash on hand and proceeds from our new term loan .", "paypros , based in california , is a provider of fully-integrated payment solutions for small-to-medium sized merchants in the united states .", "paypros delivers its products and services through a network of technology-based enterprise software partners to vertical markets that are complementary to the markets served by accelerated payment technologies ( 201capt 201d ) , which we acquired in october 2012 .", "we acquired paypros to expand our direct distribution capabilities in the united states and to further enhance our existing integrated solutions offerings .", "this acquisition was recorded as a business combination , and the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values .", "due to the timing of this transaction , the allocation of the purchase price is preliminary pending final valuation of intangible assets and deferred income taxes as well as resolution of the working capital settlement discussed above .", "the purchase price of paypros was determined by analyzing the historical and prospective financial statements .", "acquisition costs associated with this purchase were not material .", "the following table summarizes the preliminary purchase price allocation ( in thousands ) : ." ]

[ "goodwill the customer-related intangible assets of $ 271577 is 147500 ;", "goodwill the contract-based intangible assets of $ 271577 is 31000 ;", "goodwill the acquired technology of $ 271577 is 10700 ;", "goodwill the fixed assets of $ 271577 is 1680 ;", "goodwill the other assets of $ 271577 is 4230 ;", "goodwill the total assets acquired of $ 271577 is 466687 ;", "the goodwill associated with the acquisition is not deductible for tax purposes .", "the customer-related intangible assets and the contract-based intangible assets have an estimated amortization period of 13 years .", "the acquired technology has an estimated amortization period of 7 years. ." ]

[ [ "goodwill", "$ 271577" ], [ "customer-related intangible assets", "147500" ], [ "contract-based intangible assets", "31000" ], [ "acquired technology", "10700" ], [ "fixed assets", "1680" ], [ "other assets", "4230" ], [ "total assets acquired", "466687" ], [ "deferred income taxes", "-38949 ( 38949 )" ], [ "net assets acquired", "$ 427738" ] ]

[ "the goodwill was assigned to the health and well-being services segment and is not deductible for tax purposes .", "the other intangible assets , which primarily consist of customer contracts and trade names , have a weighted average useful life of 8.4 years .", "on october 29 , 2012 , we acquired a noncontrolling equity interest in mcci holdings , llc , or mcci , a privately held mso headquartered in miami , florida that coordinates medical care for medicare advantage and medicaid beneficiaries primarily in florida and texas .", "the metropolitan and mcci transactions are expected to provide us with components of a successful integrated care delivery model that has demonstrated scalability to new markets .", "a substantial portion of the revenues for both metropolitan and mcci are derived from services provided to humana medicare advantage members under capitation contracts with our health plans .", "in addition , metropolitan and mcci provide services to medicare advantage and medicaid members under capitation contracts with third party health plans .", "under these capitation agreements with humana and third party health plans , metropolitan and mcci assume financial risk associated with these medicare advantage and medicaid members. ." ]

[ "humana inc .", "notes to consolidated financial statements 2014 ( continued ) not be estimated based on observable market prices , and as such , unobservable inputs were used .", "for auction rate securities , valuation methodologies include consideration of the quality of the sector and issuer , underlying collateral , underlying final maturity dates , and liquidity .", "recently issued accounting pronouncements there are no recently issued accounting standards that apply to us or that will have a material impact on our results of operations , financial condition , or cash flows .", "3 .", "acquisitions on december 21 , 2012 , we acquired metropolitan health networks , inc. , or metropolitan , a medical services organization , or mso , that coordinates medical care for medicare advantage beneficiaries and medicaid recipients , primarily in florida .", "we paid $ 11.25 per share in cash to acquire all of the outstanding shares of metropolitan and repaid all outstanding debt of metropolitan for a transaction value of $ 851 million , plus transaction expenses .", "the preliminary fair values of metropolitan 2019s assets acquired and liabilities assumed at the date of the acquisition are summarized as follows : metropolitan ( in millions ) ." ]

[ "the cash and cash equivalents of metropolitan ( in millions ) is $ 49 ;", "the receivables net of metropolitan ( in millions ) is 28 ;", "the other current assets of metropolitan ( in millions ) is 40 ;" ]

[ [ "", "metropolitan ( in millions )" ], [ "cash and cash equivalents", "$ 49" ], [ "receivables net", "28" ], [ "other current assets", "40" ], [ "property and equipment", "22" ], [ "goodwill", "569" ], [ "other intangible assets", "263" ], [ "other long-term assets", "1" ], [ "total assets acquired", "972" ], [ "current liabilities", "-22 ( 22 )" ], [ "other long-term liabilities", "-99 ( 99 )" ], [ "total liabilities assumed", "-121 ( 121 )" ], [ "net assets acquired", "$ 851" ] ]

[ "software development costs capitalization of software development costs for software to be sold , leased , or otherwise marketed begins upon the establishment of technological feasibility , which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate .", "amortization begins once the software is ready for its intended use , generally based on the pattern in which the economic benefits will be consumed .", "to date , software development costs incurred between completion of a working prototype and general availability of the related product have not been material .", "internal use software we capitalize costs associated with customized internal-use software systems that have reached the application development stage .", "such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related expenses for employees , who are directly associated with the development of the applications .", "capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose .", "income taxes we use the asset and liability method of accounting for income taxes .", "under this method , income tax expense is recognized for the amount of taxes payable or refundable for the current year .", "in addition , deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities , and for operating losses and tax credit carryforwards .", "we record a valuation allowance to reduce deferred tax assets to an amount for which realization is more likely than not .", "table of contents adobe systems incorporated notes to consolidated financial statements ( continued ) ." ]

[ "goodwill is assigned to one or more reporting segments on the date of acquisition .", "we evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value , including the associated goodwill .", "to determine the fair values , we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows .", "our cash flow assumptions consider historical and forecasted revenue , operating costs and other relevant factors .", "we amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists .", "we continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets , including our intangible assets may not be recoverable .", "when such events or changes in circumstances occur , we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows .", "if the future undiscounted cash flows are less than the carrying amount of these assets , we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets .", "we did not recognize any intangible asset impairment charges in fiscal 2012 , 2011 or 2010 .", "our intangible assets are amortized over their estimated useful lives of 1 to 13 years .", "amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed .", "the weighted average useful lives of our intangible assets was as follows : weighted average useful life ( years ) ." ]

[ "the customer contracts and relationships of weighted averageuseful life ( years ) is 10 ;", "the trademarks of weighted averageuseful life ( years ) is 7 ;" ]

[ [ "", "weighted averageuseful life ( years )" ], [ "purchased technology", "5" ], [ "customer contracts and relationships", "10" ], [ "trademarks", "7" ], [ "acquired rights to use technology", "9" ], [ "localization", "1" ], [ "other intangibles", "3" ] ]

[ "the company 2019s major tax jurisdictions as of september 30 , 2011 are the united states , california , iowa , singapore and canada .", "for the united states , the company has open tax years dating back to fiscal year 1998 due to the carry forward of tax attributes .", "for california and iowa , the company has open tax years dating back to fiscal year 2002 due to the carry forward of tax attributes .", "for singapore , the company has open tax years dating back to fiscal year 2011 .", "for canada , the company has open tax years dating back to fiscal year 2004 .", "during the year ended september 30 , 2011 , the company did not recognize any significant amount of previously unrecognized tax benefits related to the expiration of the statute of limitations .", "the company 2019s policy is to recognize accrued interest and penalties , if incurred , on any unrecognized tax benefits as a component of income tax expense .", "the company recognized $ 0.5 million of accrued interest or penalties related to unrecognized tax benefits during fiscal year 2011 .", "11 .", "stockholders 2019 equity common stock at september 30 , 2011 , the company is authorized to issue 525000000 shares of common stock , par value $ 0.25 per share of which 195407396 shares are issued and 186386197 shares outstanding .", "holders of the company 2019s common stock are entitled to such dividends as may be declared by the company 2019s board of directors out of funds legally available for such purpose .", "dividends may not be paid on common stock unless all accrued dividends on preferred stock , if any , have been paid or declared and set aside .", "in the event of the company 2019s liquidation , dissolution or winding up , the holders of common stock will be entitled to share pro rata in the assets remaining after payment to creditors and after payment of the liquidation preference plus any unpaid dividends to holders of any outstanding preferred stock .", "each holder of the company 2019s common stock is entitled to one vote for each such share outstanding in the holder 2019s name .", "no holder of common stock is entitled to cumulate votes in voting for directors .", "the company 2019s second amended and restated certificate of incorporation provides that , unless otherwise determined by the company 2019s board of directors , no holder of common stock has any preemptive right to purchase or subscribe for any stock of any class which the company may issue or sell .", "on august 3 , 2010 , the board of directors approved a stock repurchase program , pursuant to which the company is authorized to repurchase up to $ 200.0 million of the company 2019s common stock from time to time on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements .", "during the fiscal year ended september 30 , 2011 , the company paid approximately $ 70.0 million ( including commissions ) in connection with the repurchase of 2768045 shares of its common stock ( paying an average price of $ 25.30 per share ) .", "as of september 30 , 2011 , $ 130.0 million remained available under the existing share repurchase program .", "page 110 skyworks / annual report 2011 ." ]

[ "notes to consolidated financial statements 2014 ( continued ) a reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows ( in thousands ) : ." ]

[ "balance at october 1 2010 the balance at september 30 2011 of $ 19900 is $ 32136 ;" ]

[ [ "balance at october 1 2010", "$ 19900" ], [ "increases based on positions related to prior years", "935" ], [ "increases based on positions related to current year", "11334" ], [ "decreases relating to settlements with taxing authorities", "2014" ], [ "decreases relating to lapses of applicable statutes of limitations", "-33 ( 33 )" ], [ "balance at september 30 2011", "$ 32136" ] ]

[ "." ]

[ "intel corporation notes to consolidated financial statements ( continued ) note 16 : other comprehensive income ( loss ) the changes in accumulated other comprehensive income ( loss ) by component and related tax effects for each period were as follows : ( in millions ) unrealized holding ( losses ) on available- for-sale investments deferred tax asset valuation allowance unrealized holding ( losses ) on derivatives service credits ( costs ) actuarial ( losses ) foreign currency translation adjustment total ." ]

[ "( in millions ) the december 27 2014 of unrealized holding gains ( losses ) on available-for-sale investments is $ 2459 ; the december 27 2014 of deferred tax asset valuation allowance is $ 26 ; the december 27 2014 of unrealized holding gains ( losses ) on derivatives is $ -423 ( 423 ) ; the december 27 2014 of prior service credits ( costs ) is $ -47 ( 47 ) ; the december 27 2014 of actuarial gains ( losses ) is $ -1004 ( 1004 ) ; the december 27 2014 of foreign currency translation adjustment is $ -345 ( 345 ) ; the december 27 2014 of total is $ 666 ;", "( in millions ) the december 26 2015 of unrealized holding gains ( losses ) on available-for-sale investments is 1749 ; the december 26 2015 of deferred tax asset valuation allowance is 8 ; the december 26 2015 of unrealized holding gains ( losses ) on derivatives is -266 ( 266 ) ; the december 26 2015 of prior service credits ( costs ) is -40 ( 40 ) ; the december 26 2015 of actuarial gains ( losses ) is -876 ( 876 ) ; the december 26 2015 of foreign currency translation adjustment is -515 ( 515 ) ; the december 26 2015 of total is 60 ;" ]

[ [ "( in millions )", "unrealized holding gains ( losses ) on available-for-sale investments", "deferred tax asset valuation allowance", "unrealized holding gains ( losses ) on derivatives", "prior service credits ( costs )", "actuarial gains ( losses )", "foreign currency translation adjustment", "total" ], [ "december 27 2014", "$ 2459", "$ 26", "$ -423 ( 423 )", "$ -47 ( 47 )", "$ -1004 ( 1004 )", "$ -345 ( 345 )", "$ 666" ], [ "other comprehensive income ( loss ) before reclassifications", "-999 ( 999 )", "2014", "-298 ( 298 )", "-2 ( 2 )", "73", "-187 ( 187 )", "-1413 ( 1413 )" ], [ "amounts reclassified out of accumulated other comprehensive income ( loss )", "-93 ( 93 )", "2014", "522", "10", "67", "2014", "506" ], [ "tax effects", "382", "-18 ( 18 )", "-67 ( 67 )", "-1 ( 1 )", "-12 ( 12 )", "17", "301" ], [ "other comprehensive income ( loss )", "-710 ( 710 )", "-18 ( 18 )", "157", "7", "128", "-170 ( 170 )", "-606 ( 606 )" ], [ "december 26 2015", "1749", "8", "-266 ( 266 )", "-40 ( 40 )", "-876 ( 876 )", "-515 ( 515 )", "60" ], [ "other comprehensive income ( loss ) before reclassifications", "1170", "2014", "-26 ( 26 )", "2014", "-680 ( 680 )", "-4 ( 4 )", "460" ], [ "amounts reclassified out of accumulated other comprehensive income ( loss )", "-530 ( 530 )", "2014", "38", "2014", "170", "2014", "-322 ( 322 )" ], [ "tax effects", "-225 ( 225 )", "-8 ( 8 )", "-5 ( 5 )", "2014", "146", "2014", "-92 ( 92 )" ], [ "other comprehensive income ( loss )", "415", "-8 ( 8 )", "7", "2014", "-364 ( 364 )", "-4 ( 4 )", "46" ], [ "december 31 2016", "$ 2164", "$ 2014", "$ -259 ( 259 )", "$ -40 ( 40 )", "$ -1240 ( 1240 )", "$ -519 ( 519 )", "$ 106" ] ]

[ "total ( 5 ) $ 51.5 100% ( 100 % ) 0.7% ( 0.7 % ) 1% ( 1 % ) 738 $ 60.1 100% ( 100 % ) 2.1% ( 2.1 % ) 4% ( 4 % ) 715 note : totals may not sum due to rounding .", "( 1 ) certain of the states are included as part of a region based on citi 2019s view of similar hpi within the region .", "( 2 ) ending net receivables .", "excludes loans in canada and puerto rico , loans guaranteed by u.s .", "government agencies , loans recorded at fair value and loans subject to long term standby commitments ( ltscs ) .", "excludes balances for which fico or ltv data are unavailable .", "( 3 ) ltv ratios ( loan balance divided by appraised value ) are calculated at origination and updated by applying market price data .", "( 4 ) new york , new jersey , connecticut , florida and illinois are judicial states .", "( 5 ) improvement in state trends during 2015 was primarily due to the sale or transfer to held-for-sale of residential first mortgages , including the transfer of citifinancial residential first mortgages to held-for-sale in the fourth quarter of 2015 .", "foreclosures a substantial majority of citi 2019s foreclosure inventory consists of residential first mortgages .", "at december 31 , 2015 , citi 2019s foreclosure inventory included approximately $ 0.1 billion , or 0.2% ( 0.2 % ) , of the total residential first mortgage portfolio , compared to $ 0.6 billion , or 0.9% ( 0.9 % ) , at december 31 , 2014 , based on the dollar amount of ending net receivables of loans in foreclosure inventory , excluding loans that are guaranteed by u.s .", "government agencies and loans subject to ltscs .", "north america consumer mortgage quarterly credit trends 2014net credit losses and delinquencies 2014home equity citi 2019s home equity loan portfolio consists of both fixed-rate home equity loans and loans extended under home equity lines of credit .", "fixed-rate home equity loans are fully amortizing .", "home equity lines of credit allow for amounts to be drawn for a period of time with the payment of interest only and then , at the end of the draw period , the then-outstanding amount is converted to an amortizing loan ( the interest-only payment feature during the revolving period is standard for this product across the industry ) .", "after conversion , the home equity loans typically have a 20-year amortization period .", "as of december 31 , 2015 , citi 2019s home equity loan portfolio of $ 22.8 billion consisted of $ 6.3 billion of fixed-rate home equity loans and $ 16.5 billion of loans extended under home equity lines of credit ( revolving helocs ) . ." ]

[ "during 2015 , continued management actions , primarily the sale or transfer to held-for-sale of approximately $ 1.5 billion of delinquent residential first mortgages , including $ 0.9 billion in the fourth quarter largely associated with the transfer of citifinancial loans to held-for-sale referenced above , were the primary driver of the overall improvement in delinquencies within citi holdings 2019 residential first mortgage portfolio .", "credit performance from quarter to quarter could continue to be impacted by the amount of delinquent loan sales or transfers to held-for-sale , as well as overall trends in hpi and interest rates .", "north america residential first mortgages 2014state delinquency trends the following tables set forth the six u.s .", "states and/or regions with the highest concentration of citi 2019s residential first mortgages. ." ]

[ "as of december 31 , 2015 , citi 2019s home equity loan portfolio of $ 22.8 billion consisted of $ 6.3 billion of fixed-rate home equity loans and $ 16.5 billion of loans extended under home equity lines of credit ( revolving helocs ) . ." ]

[ [ "in billions of dollars state ( 1 )", "in billions of dollars enr ( 2 )", "in billions of dollars enrdistribution", "in billions of dollars 90+dpd% ( 90+dpd % )", "in billions of dollars %ltv >100% ( >100 % ) ( 3 )", "in billions of dollars refreshedfico", "in billions of dollars enr ( 2 )", "in billions of dollars enrdistribution", "in billions of dollars 90+dpd% ( 90+dpd % )", "%ltv >100% ( >100 % ) ( 3 )", "refreshedfico" ], [ "ca", "$ 19.2", "37% ( 37 % )", "0.2% ( 0.2 % )", "1% ( 1 % )", "754", "$ 18.9", "31% ( 31 % )", "0.6% ( 0.6 % )", "2% ( 2 % )", "745" ], [ "ny/nj/ct ( 4 )", "12.7", "25", "0.8", "1", "751", "12.2", "20", "1.9", "2", "740" ], [ "va/md", "2.2", "4", "1.2", "2", "719", "3.0", "5", "3.0", "8", "695" ], [ "il ( 4 )", "2.2", "4", "1.0", "3", "735", "2.5", "4", "2.5", "9", "713" ], [ "fl ( 4 )", "2.2", "4", "1.1", "4", "723", "2.8", "5", "3.0", "14", "700" ], [ "tx", "1.9", "4", "1.0", "2014", "711", "2.5", "4", "2.7", "2014", "680" ], [ "other", "11.0", "21", "1.3", "2", "710", "18.2", "30", "3.3", "7", "677" ], [ "total ( 5 )", "$ 51.5", "100% ( 100 % )", "0.7% ( 0.7 % )", "1% ( 1 % )", "738", "$ 60.1", "100% ( 100 % )", "2.1% ( 2.1 % )", "4% ( 4 % )", "715" ] ]

[ "the company's liability for uncertain tax positions as of december 31 , 2015 , 2014 , and 2013 , includes $ 180 million , $ 154 million , and $ 141 million , respectively , related to amounts that would impact the effective tax rate if recognized .", "it is possible that the amount of unrecognized tax benefits may change in the next twelve months ; however , we do not expect the change to have a significant impact on our consolidated statements of income or consolidated balance sheets .", "these changes may be the result of settlements of ongoing audits .", "at this time , an estimate of the range of the reasonably possible outcomes within the twelve months cannot be made .", "the company recognizes interest and penalties related to uncertain tax positions in its provision for income taxes .", "the company accrued potential interest and penalties of $ 2 million , $ 4 million , and $ 2 million in 2015 , 2014 , and 2013 , respectively .", "the company recorded a liability for interest and penalties of $ 33 million , $ 31 million , and $ 27 million as of december 31 , 2015 , 2014 , and 2013 , respectively .", "the company and its subsidiaries file income tax returns in their respective jurisdictions .", "the company has substantially concluded all u.s .", "federal income tax matters for years through 2007 .", "material u.s .", "state and local income tax jurisdiction examinations have been concluded for years through 2005 .", "the company has concluded income tax examinations in its primary non-u.s .", "jurisdictions through 2005 .", "9 .", "shareholders' equity distributable reserves as a u.k .", "incorporated company , the company is required under u.k .", "law to have available \"distributable reserves\" to make share repurchases or pay dividends to shareholders .", "distributable reserves may be created through the earnings of the u.k .", "parent company and , amongst other methods , through a reduction in share capital approved by the english companies court .", "distributable reserves are not linked to a u.s .", "gaap reported amount ( e.g. , retained earnings ) .", "as of december 31 , 2015 and 2014 , the company had distributable reserves in excess of $ 2.1 billion and $ 4.0 billion , respectively .", "ordinary shares in april 2012 , the company's board of directors authorized a share repurchase program under which up to $ 5.0 billion of class a ordinary shares may be repurchased ( \"2012 share repurchase program\" ) .", "in november 2014 , the company's board of directors authorized a new $ 5.0 billion share repurchase program in addition to the existing program ( \"2014 share repurchase program\" and , together , the \"repurchase programs\" ) .", "under each program , shares may be repurchased through the open market or in privately negotiated transactions , based on prevailing market conditions , funded from available capital .", "during 2015 , the company repurchased 16.0 million shares at an average price per share of $ 97.04 for a total cost of $ 1.6 billion under the repurchase programs .", "during 2014 , the company repurchased 25.8 million shares at an average price per share of $ 87.18 for a total cost of $ 2.3 billion under the 2012 share repurchase plan .", "in august 2015 , the $ 5 billion of class a ordinary shares authorized under the 2012 share repurchase program was exhausted .", "at december 31 , 2015 , the remaining authorized amount for share repurchase under the 2014 share repurchase program is $ 4.1 billion .", "under the repurchase programs , the company repurchased a total of 78.1 million shares for an aggregate cost of $ 5.9 billion. ." ]

[ "uncertain tax positions the following is a reconciliation of the company's beginning and ending amount of uncertain tax positions ( in millions ) : ." ]

[ "the balance at january 1 of 2015 is $ 191 ; the balance at january 1 of 2014 is $ 164 ;", "the balance at december 31 of 2015 is $ 218 ; the balance at december 31 of 2014 is $ 191 ;" ]

[ [ "", "2015", "2014" ], [ "balance at january 1", "$ 191", "$ 164" ], [ "additions based on tax positions related to the current year", "31", "31" ], [ "additions for tax positions of prior years", "53", "10" ], [ "reductions for tax positions of prior years", "-18 ( 18 )", "-6 ( 6 )" ], [ "settlements", "-32 ( 32 )", "2014" ], [ "business combinations", "2014", "5" ], [ "lapse of statute of limitations", "-5 ( 5 )", "-11 ( 11 )" ], [ "foreign currency translation", "-2 ( 2 )", "-2 ( 2 )" ], [ "balance at december 31", "$ 218", "$ 191" ] ]

[ "( 1 ) we reduced our total pool of overhead costs , through staff reductions and other measures , as the result of changes in our product mix and anticipated future levels of third-party construction , leasing , management and other operational activities .", "( 2 ) we increased our focus on development of wholly-owned properties , and also significantly increased our leasing activity during 2012 , which resulted in an increased absorption of overhead costs .", "we capitalized $ 30.4 million and $ 20.0 million of our total overhead costs to leasing and development , respectively , for consolidated properties during 2012 , compared to capitalizing $ 25.3 million and $ 10.4 million of such costs , respectively , for 2011 .", "combined overhead costs capitalized to leasing and development totaled 31.1% ( 31.1 % ) and 20.6% ( 20.6 % ) of our overall pool of overhead costs for 2012 and 2011 , respectively .", "( 3 ) the reduction in the allocation of overhead costs to service operations and rental operations resulted from reduced volumes of third-party construction projects as well as due to reducing our overall investment in office properties , which are more management intensive .", "interest expense interest expense allocable to continuing operations increased from $ 220.5 million in 2011 to $ 245.2 million in 2012 .", "we had $ 47.4 million of interest expense allocated to discontinued operations in 2011 , associated with the properties that were disposed of during 2011 , compared to the allocation of only $ 3.1 million of interest expense to discontinued operations for 2012 .", "total interest expense , combined for continuing and discontinued operations , decreased from $ 267.8 million in 2011 to $ 248.3 million in 2012 .", "the reduction in total interest expense was primarily the result of a lower weighted average borrowing rate in 2012 , due to refinancing some higher rate bonds in 2011 and 2012 , as well as a slight decrease in our average level of borrowings compared to 2011 .", "also , due to an increase in properties under development from 2011 , which met the criteria for capitalization of interest and were financed in part by common equity issuances during 2012 , a $ 5.0 million increase in capitalized interest also contributed to the decrease in total interest expense in 2012 .", "acquisition-related activity during 2012 , we recognized approximately $ 4.2 million in acquisition costs , compared to $ 2.3 million of such costs in 2011 .", "the increase from 2011 to 2012 is the result of acquiring a higher volume of medical office properties , where a higher level of acquisition costs are incurred than other property types , in 2012 .", "during 2011 , we also recognized a $ 1.1 million gain related to the acquisition of a building from one of our 50%-owned unconsolidated joint ventures .", "discontinued operations subject to certain criteria , the results of operations for properties sold during the year to unrelated parties , or classified as held-for-sale at the end of the period , are required to be classified as discontinued operations .", "the property specific components of earnings that are classified as discontinued operations include rental revenues , rental expenses , real estate taxes , allocated interest expense and depreciation expense , as well as the net gain or loss on the disposition of properties .", "the operations of 150 buildings are currently classified as discontinued operations .", "these 150 buildings consist of 114 office , 30 industrial , four retail , and two medical office properties .", "as a result , we classified operating losses , before gain on sales , of $ 1.5 million , $ 1.8 million and $ 7.1 million in discontinued operations for the years ended december 31 , 2012 , 2011 and 2010 , respectively .", "of these properties , 28 were sold during 2012 , 101 properties were sold during 2011 and 19 properties were sold during 2010 .", "the gains on disposal of these properties of $ 13.5 million , $ 100.9 million and $ 33.1 million for the years ended december 31 , 2012 , 2011 and ." ]

[ "29 annual report 2012 duke realty corporation | | those indirect costs not allocated to or absorbed by these operations are charged to general and administrative expenses .", "we regularly review our total overhead cost structure relative to our leasing , development and construction volume and adjust the level of total overhead , generally through changes in our level of staffing in various functional departments , as necessary in order to control overall general and administrative expense .", "general and administrative expenses increased from $ 43.1 million in 2011 to $ 46.4 million in 2012 .", "the following table sets forth the factors that led to the increase in general and administrative expenses from 2011 to 2012 ( in millions ) : ." ]

[ "general and administrative expenses - 2011 the general and administrative expenses - 2012 of $ 43.1 is $ 46.4 ;" ]

[ [ "general and administrative expenses - 2011", "$ 43.1" ], [ "reduction to overall pool of overhead costs ( 1 )", "-11.0 ( 11.0 )" ], [ "increased absorption of costs by wholly-owned development and leasing activities ( 2 )", "-14.7 ( 14.7 )" ], [ "reduced allocation of costs to service operations and rental operations ( 3 )", "29.0" ], [ "general and administrative expenses - 2012", "$ 46.4" ] ]

[ "weighted average fair value of restricted stock granted during the year $ 17386949 $ 7023942 $ 21768084 the fair value of restricted stock that vested during the years ended december 31 , 2013 , 2012 and 2011 was $ 1.6 million , $ 22.4 million and $ 4.3 million , respectively .", "as of december 31 , 2013 , there was $ 17.8 million of total unrecognized compensation cost related to unvested restricted stock , which is expected to be recognized over a weighted average period of approximately 2.7 years .", "for the years ended december 31 , 2013 , 2012 and 2011 , approximately $ 4.5 million , $ 4.1 million and $ 3.4 million , respectively , was capitalized to assets associated with compensation expense related to our long-term compensation plans , restricted stock and stock options .", "we granted ltip units , which include bonus , time-based and performance based awards , with a fair value of $ 27.1 million , zero and $ 8.5 million as of 2013 , 2012 and 2011 , respectively .", "the grant date fair value of the ltip unit awards was calculated in accordance with asc 718 .", "a third party consultant determined the fair value of the ltip units to have a discount from sl green's common stock price .", "the discount was calculated by considering the inherent uncertainty that the ltip units will reach parity with other common partnership units and the illiquidity due to transfer restrictions .", "as of december 31 , 2013 , there was $ 5.0 million of total unrecognized compensation expense related to the time-based and performance based awards , which is expected to be recognized over a weighted average period of approximately 1.5 years .", "during the years ended december 31 , 2013 , 2012 and 2011 , we recorded compensation expense related to bonus , time-based and performance based awards of approximately $ 27.3 million , $ 12.6 million and $ 8.5 million , respectively .", "2010 notional unit long-term compensation plan in december 2009 , the compensation committee of the company's board of directors approved the general terms of the sl green realty corp .", "2010 notional unit long-term compensation program , or the 2010 long-term compensation plan .", "the 2010 long-term compensation plan is a long-term incentive compensation plan pursuant to which award recipients could earn , in the aggregate , from approximately $ 15.0 million up to approximately $ 75.0 million of ltip units in the operating partnership based on our stock price appreciation over three years beginning on december 1 , 2009 ; provided that , if maximum performance had been achieved , approximately $ 25.0 million of awards could be earned at any time after the beginning of the second year and an additional approximately $ 25.0 million of awards could be earned at any time after the beginning of the third year .", "in order to achieve maximum performance under the 2010 long-term compensation plan , our aggregate stock price appreciation during the performance period had to equal or exceed 50% ( 50 % ) .", "the compensation committee determined that maximum performance had been achieved at or shortly after the beginning of each of the second and third years of the performance period and for the full performance period and , accordingly , 366815 ltip units , 385583 ltip units and 327416 ltip units were earned under the 2010 long-term compensation plan in december 2010 , 2011 and 2012 , respectively .", "substantially in accordance with the original terms of the program , 50% ( 50 % ) of these ltip units vested on december 17 , 2012 ( accelerated from the original january 1 , 2013 vesting date ) , 25% ( 25 % ) of these ltip units vested on december 11 , 2013 ( accelerated from the original january 1 , 2014 vesting date ) and the remainder is scheduled to vest on january 1 , 2015 based on ." ]

[ "during the years ended december 31 , 2013 , 2012 , and 2011 , we recognized approximately $ 6.5 million , $ 5.1 million and $ 4.7 million of compensation expense , respectively , for these options .", "as of december 31 , 2013 , there was approximately $ 20.3 million of total unrecognized compensation cost related to unvested stock options , which is expected to be recognized over a weighted average period of three years .", "stock-based compensation effective january 1 , 1999 , we implemented a deferred compensation plan , or the deferred plan , covering certain of our employees , including our executives .", "the shares issued under the deferred plan were granted to certain employees , including our executives and vesting will occur annually upon the completion of a service period or our meeting established financial performance criteria .", "annual vesting occurs at rates ranging from 15% ( 15 % ) to 35% ( 35 % ) once performance criteria are reached .", "a summary of our restricted stock as of december 31 , 2013 , 2012 and 2011 and charges during the years then ended are presented below: ." ]

[ "the balance at beginning of year of 2013 is 2804901 ; the balance at beginning of year of 2012 is 2912456 ; the balance at beginning of year of 2011 is 2728290 ;", "the cancelled of 2013 is -3267 ( 3267 ) ; the cancelled of 2012 is -200284 ( 200284 ) ; the cancelled of 2011 is -1167 ( 1167 ) ;", "a summary of our restricted stock as of december 31 , 2013 , 2012 and 2011 and charges during the years then ended are presented below: ." ]

[ [ "", "2013", "2012", "2011" ], [ "balance at beginning of year", "2804901", "2912456", "2728290" ], [ "granted", "192563", "92729", "185333" ], [ "cancelled", "-3267 ( 3267 )", "-200284 ( 200284 )", "-1167 ( 1167 )" ], [ "balance at end of year", "2994197", "2804901", "2912456" ], [ "vested during the year", "21074", "408800", "66299" ], [ "compensation expense recorded", "$ 6713155", "$ 6930381", "$ 17365401" ], [ "weighted average fair value of restricted stock granted during the year", "$ 17386949", "$ 7023942", "$ 21768084" ] ]

[ "during 2018 , ppg released $ 13 million of previously recorded accruals and contingencies established in conjunction with the divestitures of businesses within the former glass segment as a result of completed actions , new information and updated estimates .", "also during 2018 , ppg made a final payment of $ 20 million to vitro s.a.b .", "de c.v related to the transfer of certain pension obligations upon the sale of the former flat glass business .", "north american fiber glass business on september 1 , 2017 , ppg completed the sale of its north american fiber glass business to nippon electric glass co .", "ltd .", "( 201cneg 201d ) .", "cash proceeds from the sale were $ 541 million , resulting in a pre-tax gain of $ 343 million , net of certain accruals and contingencies established in conjunction with the divestiture .", "ppg 2019s fiber glass operations included manufacturing facilities in chester , south carolina , and lexington and shelby , north carolina ; and administrative and research-and-development operations in shelby and in harmar , pennsylvania , near pittsburgh .", "the business , which employed more than 1000 people and had net sales of approximately $ 350 million in 2016 , supplies the transportation , energy , infrastructure and consumer markets .", "flat glass business in october 2016 , ppg completed the sale of its flat glass manufacturing and glass coatings operations to vitro s.a.b .", "de c.v .", "ppg received approximately $ 740 million in cash proceeds and recorded a pre-tax gain of $ 421 million on the sale .", "under the terms of the agreement , ppg divested its entire flat glass manufacturing and glass coatings operations , including production sites located in fresno , california ; salem , oregon ; carlisle , pennsylvania ; and wichita falls , texas ; four distribution/fabrication facilities located across canada ; and a research-and-development center located in harmar , pennsylvania .", "ppg 2019s flat glass business included approximately 1200 employees .", "the business manufactures glass that is fabricated into products used primarily in commercial and residential construction .", "notes to the consolidated financial statements ." ]

[ "2018 ppg annual report and form 10-k 59 other acquisitions in 2018 , 2017 , and 2016 , the company completed several smaller business acquisitions .", "the total consideration paid for these acquisitions , net of cash acquired , debt assumed and other post closing adjustments , was $ 108 million , $ 74 million and $ 43 million , respectively .", "in january 2018 , ppg acquired procoatings , a leading architectural paint and coatings wholesaler located in the netherlands .", "procoatings , established in 2001 , distributes a large portfolio of well-known professional paint brands through its network of 23 multi-brand stores .", "the company employs nearly 100 people .", "the results of this business since the date of acquisition have been reported within the architectural coatings americas and asia pacific business within the performance coatings reportable segment .", "in january 2017 , ppg acquired certain assets of automotive refinish coatings company futian xinshi ( 201cfutian 201d ) , based in the guangdong province of china .", "futian distributes its products in china through a network of more than 200 distributors .", "in january 2017 , ppg completed the acquisition of deutek s.a. , a leading romanian paint and architectural coatings manufacturer , from the emerging europe accession fund .", "deutek , established in 1993 , manufactures and markets a large portfolio of well-known professional and consumer paint brands , including oskar and danke! .", "the company 2019s products are sold in more than 120 do-it-yourself stores and 3500 independent retail outlets in romania .", "divestitures glass segment in 2017 , ppg completed a multi-year strategic shift in the company's business portfolio , resulting in the exit of all glass operations which consisted of the global fiber glass business , ppg's ownership interest in two asian fiber glass joint ventures and the flat glass business .", "accordingly , the results of operations , including the gains on the divestitures , and cash flows have been recast as discontinued operations for all periods presented .", "ppg now has two reportable business segments .", "the net sales and income from discontinued operations related to the former glass segment for the three years ended december 31 , 2018 , 2017 , and 2016 were as follows: ." ]

[ "( $ in millions ) the net sales of 2018 is $ 2014 ; the net sales of 2017 is $ 217 ; the net sales of 2016 is $ 908 ;", "( $ in millions ) the income from operations of 2018 is $ 21 ; the income from operations of 2017 is $ 30 ; the income from operations of 2016 is $ 111 ;" ]

[ [ "( $ in millions )", "2018", "2017", "2016" ], [ "net sales", "$ 2014", "$ 217", "$ 908" ], [ "income from operations", "$ 21", "$ 30", "$ 111" ], [ "net gains on the divestitures of businesses", "2014", "343", "421" ], [ "income tax expense", "5", "140", "202" ], [ "income from discontinued operations net of tax", "$ 16", "$ 233", "$ 330" ] ]

[ "oil sands mining segment we hold a 20 percent non-operated interest in the aosp , an oil sands mining and upgrading joint venture located in alberta , canada .", "the joint venture produces bitumen from oil sands deposits in the athabasca region utilizing mining techniques and upgrades the bitumen to synthetic crude oils and vacuum gas oil .", "the aosp 2019s mining and extraction assets are located near fort mcmurray , alberta , and include the muskeg river and the jackpine mines .", "gross design capacity of the combined mines is 255000 ( 51000 net to our interest ) barrels of bitumen per day .", "the aosp operations use established processes to mine oil sands deposits from an open-pit mine , extract the bitumen and upgrade it into synthetic crude oils .", "ore is mined using traditional truck and shovel mining techniques .", "the mined ore passes through primary crushers to reduce the ore chunks in size and is then sent to rotary breakers where the ore chunks are further reduced to smaller particles .", "the particles are combined with hot water to create slurry .", "the slurry moves through the extraction process where it separates into sand , clay and bitumen-rich froth .", "a solvent is added to the bitumen froth to separate out the remaining solids , water and heavy asphaltenes .", "the solvent washes the sand and produces clean bitumen that is required for the upgrader to run efficiently .", "the process yields a mixture of solvent and bitumen which is then transported from the mine to the scotford upgrader via the approximately 300-mile corridor pipeline .", "the aosp's scotford upgrader is located at fort saskatchewan , northeast of edmonton , alberta .", "the bitumen is upgraded at scotford using both hydrotreating and hydroconversion processes to remove sulfur and break the heavy bitumen molecules into lighter products .", "blendstocks acquired from outside sources are utilized in the production of our saleable products .", "the upgrader produces synthetic crude oils and vacuum gas oil .", "the vacuum gas oil is sold to an affiliate of the operator under a long-term contract at market-related prices , and the other products are sold in the marketplace .", "as of december 31 , 2014 , we own or have rights to participate in developed and undeveloped leases totaling approximately 163000 gross ( 33000 net ) acres .", "the underlying developed leases are held for the duration of the project , with royalties payable to the province of alberta .", "synthetic crude oil sales volumes for 2014 averaged 50 mbbld and net-of-royalty production was 41 mbbld .", "in december 2013 , a jackpine mine expansion project received conditional approval from the canadian government .", "the project includes additional mining areas , associated processing facilities and infrastructure .", "the government conditions relate to wildlife , the environment and aboriginal health issues .", "we will evaluate the potential expansion project and government conditions after infrastructure reliability initiatives are completed .", "the governments of alberta and canada have agreed to partially fund quest ccs for $ 865 million canadian .", "in the third quarter of 2012 , the energy and resources conservation board ( \"ercb\" ) , alberta's primary energy regulator at that time , conditionally approved the project and the aosp partners approved proceeding to construct and operate quest ccs .", "government funding commenced in 2012 and continued as milestones were achieved during the development , construction and operating phases .", "failure of the aosp to meet certain timing , performance and operating objectives may result in repaying some of the government funding .", "construction and commissioning of quest ccs is expected to be completed by late 2015. ." ]

[ "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 many of these licenses and concession areas or retain leases through operational or administrative actions .", "net undeveloped acres expiring year ended december 31 ." ]

[ "( in thousands ) the other africa of net undeveloped acres expiring year ended december 31 , 2015 is 1950 ; the other africa of net undeveloped acres expiring year ended december 31 , 2016 is 1502 ; the other africa of net undeveloped acres expiring year ended december 31 , 2017 is 1089 ;", "( in thousands ) the total africa of net undeveloped acres expiring year ended december 31 , 2015 is 1986 ; the total africa of net undeveloped acres expiring year ended december 31 , 2016 is 1502 ; the total africa of net undeveloped acres expiring year ended december 31 , 2017 is 1089 ;" ]

[ [ "( in thousands )", "net undeveloped acres expiring year ended december 31 , 2015", "net undeveloped acres expiring year ended december 31 , 2016", "net undeveloped acres expiring year ended december 31 , 2017" ], [ "u.s .", "211", "150", "94" ], [ "e.g .", "36", "2014", "2014" ], [ "other africa", "1950", "1502", "1089" ], [ "total africa", "1986", "1502", "1089" ], [ "other international", "88", "2014", "2014" ], [ "total", "2285", "1652", "1183" ] ]

[ "( 1 ) does not include restricted cash balances cash flow from operating activities : cash provided from operating activities is net income adjusted for certain non-cash items and changes in certain assets and liabilities .", "for fiscal year 2010 we generated $ 223.0 million in cash flow from operations , an increase of $ 4.2 million when compared to the $ 218.8 million generated in fiscal year 2009 .", "during fiscal year 2010 , net income increased by $ 42.3 million to $ 137.3 million when compared to fiscal year 2009 .", "despite the increase in net income , net cash provided by operating activities remained relatively consistent .", "this was primarily due to : 2022 fiscal year 2010 net income included a deferred tax expense of $ 38.5 million compared to a $ 24.9 million deferred tax benefit included in 2009 net income due to the release of the tax valuation allowance in fiscal year 2009 .", "2022 during fiscal year 2010 , the company invested in working capital as result of higher business activity .", "compared to fiscal year 2009 , accounts receivable , inventory and accounts payable increased by $ 60.9 million , $ 38.8 million and $ 42.9 million , respectively .", "cash flow from investing activities : cash flow from investing activities consists primarily of capital expenditures and acquisitions .", "we had net cash outflows of $ 95.3 million in fiscal year 2010 , compared to $ 49.5 million in fiscal year 2009 .", "the increase is primarily due to an increase of $ 49.8 million in capital expenditures .", "we anticipate our capital spending to be consistent in fiscal year 2011 to maintain our projected growth rate .", "cash flow from financing activities : cash flows from financing activities consist primarily of cash transactions related to debt and equity .", "during fiscal year 2010 , we had net cash outflows of $ 38.6 million , compared to $ 30.2 million in fiscal year 2009 .", "during the year we had the following significant transactions : 2022 we retired $ 53.0 million in aggregate principal amount ( carrying value of $ 51.1 million ) of 2007 convertible notes for $ 80.7 million , which included a $ 29.6 million premium paid for the equity component of the instrument .", "2022 we received net proceeds from employee stock option exercises of $ 40.5 million in fiscal year 2010 , compared to $ 38.7 million in fiscal year 2009 .", "skyworks / 2010 annual report 103 ." ]

[ "31mar201122064257 positions which were required to be capitalized .", "there are no positions which we anticipate could change materially within the next twelve months .", "liquidity and capital resources ." ]

[ "we had net cash outflows of $ 95.3 million in fiscal year 2010 , compared to $ 49.5 million in fiscal year 2009 ." ]

[ [ "( dollars in thousands )", "fiscal years ended october 1 2010", "fiscal years ended october 2 2009", "fiscal years ended october 3 2008" ], [ "cash and cash equivalents at beginning of period", "$ 364221", "$ 225104", "$ 241577" ], [ "net cash provided by operating activities", "222962", "218805", "182673" ], [ "net cash used in investing activities", "-95329 ( 95329 )", "-49528 ( 49528 )", "-94959 ( 94959 )" ], [ "net cash used in financing activities", "-38597 ( 38597 )", "-30160 ( 30160 )", "-104187 ( 104187 )" ], [ "cash and cash equivalents at end of period ( 1 )", "$ 453257", "$ 364221", "$ 225104" ] ]

[ "13 .", "stockholders 2019 equity warrants 2014in august 2005 , the company completed its merger with spectrasite , inc .", "and assumed outstanding warrants to purchase shares of spectrasite , inc .", "common stock .", "as of the merger completion date , each warrant was exercisable for two shares of spectrasite , inc .", "common stock at an exercise price of $ 32 per warrant .", "upon completion of the merger , each warrant to purchase shares of spectrasite , inc .", "common stock automatically converted into a warrant to purchase shares of the company 2019s common stock , such that upon exercise of each warrant , the holder has a right to receive 3.575 shares of the company 2019s common stock in lieu of each share of spectrasite , inc .", "common stock that would have been receivable under each assumed warrant prior to the merger .", "upon completion of the company 2019s merger with spectrasite , inc. , these warrants were exercisable for approximately 6.8 million shares of common stock .", "of these warrants , warrants to purchase approximately none and 1.7 million shares of common stock remained outstanding as of december 31 , 2010 and 2009 , respectively .", "these warrants expired on february 10 , 2010 .", "stock repurchase program 2014during the year ended december 31 , 2010 , the company repurchased an aggregate of approximately 9.3 million shares of its common stock for an aggregate of $ 420.8 million , including commissions and fees , of which $ 418.6 million was paid in cash prior to december 31 , 2010 and $ 2.2 million was included in accounts payable and accrued expenses in the accompanying consolidated balance sheet as of december 31 , 2010 , pursuant to its publicly announced stock repurchase program , as described below. ." ]

[ "american tower corporation and subsidiaries notes to consolidated financial statements as of december 31 , 2010 , total unrecognized compensation expense related to unvested restricted stock units granted under the 2007 plan was $ 57.5 million and is expected to be recognized over a weighted average period of approximately two years .", "employee stock purchase plan 2014the company maintains an employee stock purchase plan ( 201cespp 201d ) for all eligible employees .", "under the espp , shares of the company 2019s common stock may be purchased during bi-annual offering periods at 85% ( 85 % ) of the lower of the fair market value on the first or the last day of each offering period .", "employees may purchase shares having a value not exceeding 15% ( 15 % ) of their gross compensation during an offering period and may not purchase more than $ 25000 worth of stock in a calendar year ( based on market values at the beginning of each offering period ) .", "the offering periods run from june 1 through november 30 and from december 1 through may 31 of each year .", "during the 2010 , 2009 and 2008 offering periods employees purchased 75354 , 77509 and 55764 shares , respectively , at weighted average prices per share of $ 34.16 , $ 23.91 and $ 30.08 , respectively .", "the fair value of the espp offerings is estimated on the offering period commencement date using a black-scholes pricing model with the expense recognized over the expected life , which is the six month offering period over which employees accumulate payroll deductions to purchase the company 2019s common stock .", "the weighted average fair value for the espp shares purchased during 2010 , 2009 and 2008 was $ 9.43 , $ 6.65 and $ 7.89 , respectively .", "at december 31 , 2010 , 8.7 million shares remain reserved for future issuance under the plan .", "key assumptions used to apply this pricing model for the years ended december 31 , are as follows: ." ]

[ "during the 2010 , 2009 and 2008 offering periods employees purchased 75354 , 77509 and 55764 shares , respectively , at weighted average prices per share of $ 34.16 , $ 23.91 and $ 30.08 , respectively ." ]

[ [ "", "2010", "2009", "2008" ], [ "range of risk-free interest rate", "0.22% ( 0.22 % ) - 0.23% ( 0.23 % )", "0.29% ( 0.29 % ) - 0.44% ( 0.44 % )", "1.99% ( 1.99 % ) - 3.28% ( 3.28 % )" ], [ "weighted average risk-free interest rate", "0.22% ( 0.22 % )", "0.38% ( 0.38 % )", "2.58% ( 2.58 % )" ], [ "expected life of shares", "6 months", "6 months", "6 months" ], [ "range of expected volatility of underlying stock price", "35.26% ( 35.26 % ) - 35.27% ( 35.27 % )", "35.31% ( 35.31 % ) - 36.63% ( 36.63 % )", "27.85% ( 27.85 % ) - 28.51% ( 28.51 % )" ], [ "weighted average expected volatility of underlying stock price", "35.26% ( 35.26 % )", "35.83% ( 35.83 % )", "28.51% ( 28.51 % )" ], [ "expected annual dividends", "n/a", "n/a", "n/a" ] ]

[ "* generally , average realized price per metric ton of aluminum includes two elements : a ) the price of metal ( the underlying base metal component plus a regional premium 2013 see the footnote to the table in primary metals above for a description of these two components ) , and b ) the conversion price , which represents the incremental price over the metal price component that is associated with converting primary aluminum into sheet and plate .", "in this circumstance , the metal price component is a pass- through to this segment 2019s customers with limited exception ( e.g. , fixed-priced contracts , certain regional premiums ) .", "this segment represents alcoa 2019s midstream operations and produces aluminum sheet and plate for a variety of end markets .", "approximately one-half of the third-party shipments in this segment consist of sheet sold directly to customers in the packaging end market for the production of aluminum cans ( beverage , food , and pet food ) .", "seasonal increases in can sheet sales are generally experienced in the second and third quarters of the year .", "this segment also includes sheet and plate sold directly to customers and through distributors related to the aerospace , automotive , commercial transportation , building and construction , and industrial products ( mainly used in the production of machinery and equipment and consumer durables ) end markets .", "a small portion of this segment also produces aseptic foil for the packaging end market .", "while the customer base for flat-rolled products is large , a significant amount of sales of sheet and plate is to a relatively small number of customers .", "in this circumstance , the sales and costs and expenses of this segment are transacted in the local currency of the respective operations , which are mostly the u.s .", "dollar , the euro , the russian ruble , the brazilian real , and the british pound. ." ]

[ "purchased scrap metal from third-parties ) that were either divested or permanently closed in december 2014 ( see global rolled products below ) .", "intersegment sales for this segment improved 12% ( 12 % ) in 2014 compared with 2013 , principally due to an increase in average realized price , driven by higher regional premiums , and higher demand from the midstream and downstream businesses .", "atoi for the primary metals segment decreased $ 439 in 2015 compared with 2014 , primarily caused by both the previously mentioned lower average realized aluminum price and lower energy sales , higher energy costs ( mostly in spain as the 2014 interruptibility rights were more favorable than the 2015 structure ) , and an unfavorable impact related to the curtailment of the s e3o lu eds smelter .", "these negative impacts were somewhat offset by net favorable foreign currency movements due to a stronger u.s .", "dollar against most major currencies , net productivity improvements , the absence of a write-off of inventory related to the permanent closure of the portovesme , point henry , and massena east smelters ( $ 44 ) , and a lower equity loss related to the joint venture in saudi arabia , including the absence of restart costs for one of the potlines that was previously shut down due to a period of instability .", "atoi for this segment climbed $ 614 in 2014 compared with 2013 , principally related to a higher average realized aluminum price ; the previously mentioned energy sales in brazil ; net productivity improvements ; net favorable foreign currency movements due to a stronger u.s .", "dollar against all major currencies ; lower costs for carbon and alumina ; and the absence of costs related to a planned maintenance outage in 2013 at a power plant in australia .", "these positive impacts were slightly offset by an unfavorable impact associated with the 2013 and 2014 capacity reductions described above , including a write-off of inventory related to the permanent closure of the portovesme , point henry , and massena east smelters ( $ 44 ) , and higher energy costs ( particularly in spain ) , labor , and maintenance .", "in 2016 , aluminum production will be approximately 450 kmt lower and third-party sales will reflect the absence of approximately $ 400 both as a result of the 2015 curtailment and closure actions .", "also , energy sales in brazil will be negatively impacted by a decline in energy prices , while net productivity improvements are anticipated .", "global rolled products ." ]

[ "the intersegment sales of 2015 is 125 ; the intersegment sales of 2014 is 185 ; the intersegment sales of 2013 is 178 ;", "the total sales of 2015 is $ 6363 ; the total sales of 2014 is $ 7536 ; the total sales of 2013 is $ 7284 ;" ]

[ [ "", "2015", "2014", "2013" ], [ "third-party aluminum shipments ( kmt )", "1775", "1964", "1905" ], [ "alcoa 2019s average realized price per metric ton of aluminum*", "$ 3514", "$ 3743", "$ 3730" ], [ "third-party sales", "$ 6238", "$ 7351", "$ 7106" ], [ "intersegment sales", "125", "185", "178" ], [ "total sales", "$ 6363", "$ 7536", "$ 7284" ], [ "atoi", "$ 244", "$ 245", "$ 292" ] ]

[ "the pnc financial services group , inc .", "2013 form 10-k 79 ." ]

[ "indemnification and repurchase claims are typically settled on an individual loan basis through make-whole payments or loan repurchases ; however , on occasion we may negotiate pooled settlements with investors .", "in connection with pooled settlements , we typically do not repurchase loans and the consummation of such transactions generally results in us no longer having indemnification and repurchase exposure with the investor in the transaction .", "for the first and second-lien mortgage balances of unresolved and settled claims contained in the tables below , a significant amount of these claims were associated with sold loans originated through correspondent lender and broker origination channels .", "in certain instances when indemnification or repurchase claims are settled for these types of sold loans , we have recourse back to the correspondent lenders , brokers and other third-parties ( e.g. , contract underwriting companies , closing agents , appraisers , etc. ) .", "depending on the underlying reason for the investor claim , we determine our ability to pursue recourse with these parties and file claims with them accordingly .", "our historical recourse recovery rate has been insignificant as our efforts have been impacted by the inability of such parties to reimburse us for their recourse obligations ( e.g. , their capital availability or whether they remain in business ) or factors that limit our ability to pursue recourse from these parties ( e.g. , contractual loss caps , statutes of limitations ) .", "origination and sale of residential mortgages is an ongoing business activity , and , accordingly , management continually assesses the need to recognize indemnification and repurchase liabilities pursuant to the associated investor sale agreements .", "we establish indemnification and repurchase liabilities for estimated losses on sold first and second-lien mortgages for which indemnification is expected to be provided or for loans that are expected to be repurchased .", "for the first and second- lien mortgage sold portfolio , we have established an indemnification and repurchase liability pursuant to investor sale agreements based on claims made , demand patterns observed to date and/or expected in the future , and our estimate of future claims on a loan by loan basis .", "to estimate the mortgage repurchase liability arising from breaches of representations and warranties , we consider the following factors : ( i ) borrower performance in our historically sold portfolio ( both actual and estimated future defaults ) , ( ii ) the level of outstanding unresolved repurchase claims , ( iii ) estimated probable future repurchase claims , considering information about file requests , delinquent and liquidated loans , resolved and unresolved mortgage insurance rescission notices and our historical experience with claim rescissions , ( iv ) the potential ability to cure the defects identified in the repurchase claims ( 201crescission rate 201d ) , and ( v ) the estimated severity of loss upon repurchase of the loan or collateral , make-whole settlement , or indemnification .", "see note 24 commitments and guarantees in the notes to consolidated financial statements in item 8 of this report for additional information .", "the following tables present the unpaid principal balance of repurchase claims by vintage and total unresolved repurchase claims for the past five quarters .", "table 28 : analysis of quarterly residential mortgage repurchase claims by vintage dollars in millions december 31 september 30 june 30 march 31 december 31 ." ]

[ "dollars in millions the 2007 of december 31 2012 is 45 ; the 2007 of september 30 2012 is 137 ; the 2007 of june 30 2012 is 182 ; the 2007 of march 31 2012 is 100 ; the 2007 of december 312011 is 90 ;" ]

[ [ "dollars in millions", "december 31 2012", "september 30 2012", "june 30 2012", "march 31 2012", "december 312011" ], [ "2004 & prior", "$ 11", "$ 15", "$ 31", "$ 10", "$ 11" ], [ "2005", "8", "10", "19", "12", "13" ], [ "2006", "23", "30", "56", "41", "28" ], [ "2007", "45", "137", "182", "100", "90" ], [ "2008", "7", "23", "49", "17", "18" ], [ "2008 & prior", "94", "215", "337", "180", "160" ], [ "2009 2013 2012", "38", "52", "42", "33", "29" ], [ "total", "$ 132", "$ 267", "$ 379", "$ 213", "$ 189" ], [ "fnma fhlmc and gnma % ( % )", "94% ( 94 % )", "87% ( 87 % )", "86% ( 86 % )", "88% ( 88 % )", "91% ( 91 % )" ] ]

[ "net sales for aeronautics increased by 8% ( 8 % ) in 2010 compared to 2009 .", "sales increased in all three lines of business during the year .", "the $ 800 million increase in air mobility primarily was attributable to higher volume on c-130 programs , including deliveries and support activities , as well as higher volume on the c-5 reliability enhancement and re-engining program ( rerp ) .", "there were 25 c-130j deliveries in 2010 compared to 16 in 2009 .", "the $ 179 million increase in combat aircraft principally was due to higher volume on f-35 production contracts , which partially was offset by lower volume on the f-35 sdd contract and a decline in volume on f-16 , f-22 and other combat aircraft programs .", "there were 20 f-16 deliveries in 2010 compared to 31 in 2009 .", "the $ 55 million increase in other aeronautics programs mainly was due to higher volume on p-3 and advanced development programs , which partially were offset by a decline in volume on sustainment activities .", "net sales for aeronautics increased by 6% ( 6 % ) in 2009 compared to 2008 .", "during the year , sales increased in all three lines of business .", "the increase of $ 296 million in air mobility 2019s sales primarily was attributable to higher volume on the c-130 programs , including deliveries and support activities .", "there were 16 c-130j deliveries in 2009 and 12 in 2008 .", "combat aircraft sales increased $ 316 million principally due to higher volume on the f-35 program and increases in f-16 deliveries , which partially were offset by lower volume on f-22 and other combat aircraft programs .", "there were 31 f-16 deliveries in 2009 compared to 28 in 2008 .", "the $ 116 million increase in other aeronautics programs mainly was due to higher volume on p-3 programs and advanced development programs , which partially were offset by declines in sustainment activities .", "operating profit for the segment decreased by 5% ( 5 % ) in 2010 compared to 2009 .", "a decline in operating profit in combat aircraft partially was offset by increases in other aeronautics programs and air mobility .", "the $ 149 million decrease in combat aircraft 2019s operating profit primarily was due to lower volume and a decrease in the level of favorable performance adjustments on the f-22 program , the f-35 sdd contract and f-16 and other combat aircraft programs in 2010 .", "these decreases more than offset increased operating profit resulting from higher volume and improved performance on f-35 production contracts in 2010 .", "the $ 35 million increase in other aeronautics programs mainly was attributable to higher volume and improved performance on p-3 and advanced development programs as well as an increase in the level of favorable performance adjustments on sustainment activities in 2010 .", "the $ 19 million increase in air mobility operating profit primarily was due to higher volume and improved performance in 2010 on c-130j support activities , which more than offset a decrease in operating profit due to a lower level of favorable performance adjustments on c-130j deliveries in 2010 .", "the remaining change in operating profit is attributable to an increase in other income , net between the comparable periods .", "aeronautics 2019 2010 operating margins have decreased when compared to 2009 .", "the operating margin decrease reflects the life cycles of our significant programs .", "specifically , aeronautics is performing more development and initial production work on the f-35 program and is performing less work on more mature programs such as the f-22 and f-16 .", "development and initial production contracts yield lower profits than mature full rate programs .", "accordingly , while net sales increased in 2010 relative to 2009 , operating profit decreased and consequently operating margins have declined. ." ]

[ "the aeronautics segment generally includes fewer programs that have much larger sales and operating results than programs included in the other segments .", "due to the large number of comparatively smaller programs in the remaining segments , the discussion of the results of operations of those business segments focuses on lines of business within the segment rather than on specific programs .", "the following tables of financial information and related discussion of the results of operations of our business segments are consistent with the presentation of segment information in note 5 to the financial statements .", "we have a number of programs that are classified by the u.s .", "government and cannot be specifically described .", "the operating results of these classified programs are included in our consolidated and business segment results , and are subjected to the same oversight and internal controls as our other programs .", "aeronautics our aeronautics business segment is engaged in the research , design , development , manufacture , integration , sustainment , support , and upgrade of advanced military aircraft , including combat and air mobility aircraft , unmanned air vehicles , and related technologies .", "key combat aircraft programs include the f-35 lightning ii , f-16 fighting falcon , and f-22 raptor fighter aircraft .", "key air mobility programs include the c-130j super hercules and the c-5m super galaxy .", "aeronautics provides logistics support , sustainment , and upgrade modification services for its aircraft .", "aeronautics 2019 operating results included the following : ( in millions ) 2010 2009 2008 ." ]

[ "( in millions ) the operating profit of 2010 is 1502 ; the operating profit of 2009 is 1577 ; the operating profit of 2008 is 1433 ;" ]

[ [ "( in millions )", "2010", "2009", "2008" ], [ "net sales", "$ 13235", "$ 12201", "$ 11473" ], [ "operating profit", "1502", "1577", "1433" ], [ "operating margin", "11.3% ( 11.3 % )", "12.9% ( 12.9 % )", "12.5% ( 12.5 % )" ], [ "backlog at year-end", "27500", "26700", "27200" ] ]

[ "the retail electric price variance is primarily due to an increase in the purchased power and capacity acquisition cost recovery rider , as approved by the city council , effective with the first billing cycle of march 2016 , primarily related to the purchase of power block 1 of the union power station .", "see note 14 to the financial statements for discussion of the union power station purchase .", "the net gas revenue variance is primarily due to the effect of less favorable weather on residential and commercial sales .", "the volume/weather variance is primarily due to a decrease of 112 gwh , or 2% ( 2 % ) , in billed electricity usage , partially offset by the effect of favorable weather on commercial sales and a 2% ( 2 % ) increase in the average number of electric customers. ." ]

[ "entergy new orleans , inc .", "and subsidiaries management 2019s financial discussion and analysis results of operations net income 2016 compared to 2015 net income increased $ 3.9 million primarily due to higher net revenue , partially offset by higher depreciation and amortization expenses , higher interest expense , and lower other income .", "2015 compared to 2014 net income increased $ 13.9 million primarily due to lower other operation and maintenance expenses and higher net revenue , partially offset by a higher effective income 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 ) ." ]

[ "the 2015 net revenue of amount ( in millions ) is $ 293.9 ;", "the 2016 net revenue of amount ( in millions ) is $ 317.2 ;" ]

[ [ "", "amount ( in millions )" ], [ "2015 net revenue", "$ 293.9" ], [ "retail electric price", "39.0" ], [ "net gas revenue", "-2.5 ( 2.5 )" ], [ "volume/weather", "-5.1 ( 5.1 )" ], [ "other", "-8.1 ( 8.1 )" ], [ "2016 net revenue", "$ 317.2" ] ]

[ "." ]

[ "korea engineering plastics co. , ltd .", "founded in 1987 , kepco is the leading producer of pom in south korea .", "kepco is a venture between celanese's ticona business ( 50% ( 50 % ) ) , mitsubishi gas chemical company , inc .", "( 40% ( 40 % ) ) and mitsubishi corporation ( 10% ( 10 % ) ) .", "kepco has polyacetal production facilities in ulsan , south korea , compounding facilities for pbt and nylon in pyongtaek , south korea , and participates with polyplastics and mitsubishi gas chemical company , inc .", "in a world-scale pom facility in nantong , china .", "polyplastics co. , ltd .", "polyplastics is a leading supplier of engineered plastics in the asia-pacific region and is a venture between daicel chemical industries ltd. , japan ( 55% ( 55 % ) ) , and celanese's ticona business ( 45% ( 45 % ) ) .", "established in 1964 , polyplastics is a producer and marketer of pom and lcp in the asia-pacific region , with principal production facilities located in japan , taiwan , malaysia and china .", "fortron industries llc .", "fortron is a leading global producer of polyphenylene sulfide ( 201cpps 201d ) , sold under the fortron ae brand , which is used in a wide variety of automotive and other applications , especially those requiring heat and/or chemical resistance .", "established in 1992 , fortron is a limited liability company whose members are ticona fortron inc .", "( 50% ( 50 % ) ownership and a wholly-owned subsidiary of cna holdings , llc ) and kureha corporation ( 50% ( 50 % ) ownership and a wholly-owned subsidiary of kureha chemical industry co. , ltd .", "of japan ) .", "fortron's facility is located in wilmington , north carolina .", "this venture combines the sales , marketing , distribution , compounding and manufacturing expertise of celanese with the pps polymer technology expertise of kureha .", "china acetate strategic ventures .", "we hold an approximate 30% ( 30 % ) ownership interest in three separate acetate production ventures in china .", "these include the nantong cellulose fibers co .", "ltd. , kunming cellulose fibers co .", "ltd .", "and zhuhai cellulose fibers co .", "ltd .", "the china national tobacco corporation , the chinese state-owned tobacco entity , controls the remaining ownership interest in each of these ventures .", "with an estimated 30% ( 30 % ) share of the world's cigarette production and consumption , china is the world's largest and fastest growing area for acetate tow products according to the 2009 stanford research institute international chemical economics handbook .", "combined , these ventures are a leader in chinese domestic acetate production and are well positioned to supply chinese cigarette producers .", "in december 2009 , we announced plans with china national tobacco to expand our acetate flake and tow capacity at our venture's nantong facility and we received formal approval for the expansions , each by 30000 tons , during 2010 .", "since their inception in 1986 , the china acetate ventures have completed 12 expansions , leading to earnings growth and increased dividends .", "our chinese acetate ventures fund their operations using operating cash flow .", "during 2011 , we made contributions of $ 8 million related to the capacity expansions in nantong and have committed contributions of $ 9 million in 2012 .", "in 2010 , we made contributions of $ 12 million .", "our chinese acetate ventures pay a dividend in the second quarter of each fiscal year , based on the ventures' performance for the preceding year .", "in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively .", "although our ownership interest in each of our china acetate ventures exceeds 20% ( 20 % ) , we account for these investments using the cost method of accounting because we determined that we cannot exercise significant influence over these entities due to local government investment in and influence over these entities , limitations on our involvement in the day-to-day operations and the present inability of the entities to provide timely financial information prepared in accordance with generally accepted accounting principles in the united states ( 201cus gaap 201d ) .", "2022 other equity method investments infraservs .", "we hold indirect ownership interests in several infraserv groups in germany that own and develop industrial parks and provide on-site general and administrative support to tenants .", "the table below represents our equity investments in infraserv ventures as of december 31 , 2011: ." ]

[ "in 2011 , 2010 and 2009 , we received cash dividends of $ 78 million , $ 71 million and $ 56 million , respectively ." ]

[ [ "", "ownership % ( % )" ], [ "infraserv gmbh & co . gendorf kg", "39" ], [ "infraserv gmbh & co . knapsack kg", "27" ], [ "infraserv gmbh & co . hoechst kg", "32" ] ]